Pakistan, Azerbaijan agree to boost economic cooperation


ISLAMABAD: Pakistan and Azerbaijan have agreed to attain the optimum level of economic cooperation.This understanding reached during a meeting between Prime Minister Nawaz Sharif and Azerbaijan President lham Aliyev on the sidelines of 13th ECO conference in Islamabad on Tuesday evening. The two sides agreed to set the goal of concluding agreements of Preferential Tariff and Trade, investment, energy and other areas of economic cooperation.

The Prime Minister warmly welcomed President Ilham Aliyev to the 13th ECO Summit and thanked for the cordial hospitality extended to the Prime Minister during his last visit to Baku in October 2016. Both leaders reviewed the decision taken during the Prime Minister’s visit and expressed satisfaction at the progress of implementation of those decisions.

The two sides agreed to increase efforts to attain the optimum level of economic cooperation and agreed that the two countries should set the goal of concluding agreements of Preferential Tariff and Trade, investment, energy and other areas of economic cooperation. The leaders underscored that Islamabad Declaration and ECO Vision 2025 are important documents and would offer a roadmap for the success of the organization and common prosperity of the entire region.

The two sides noted that the trade figures do not reflect the potential that exists between the two States in terms of economic cooperation and decided to create more opportunities for increase in trade and economic activities. They expressed the hope that economic relations between the two countries would grow in the near future.

The Prime Minister and the President agreed to mark the 25th anniversary of the establishment of diplomatic relations between the two countries, falling during 2017, as year of friendly exchanges. The Prime Minister appreciated Azerbaijan’s continued support on the Jammu & Kashmir dispute and Azerbaijan’s invaluable role in the OIC Contact Group on Jammu & Kashmir. The Prime Minister reiterated Pakistan’s principle position on Azerbaijan’s stand on Nagorno’ Karabakh issue.

The President of Azerbaijan expressed his pleasure on attending the ECO Summit and tanked the Prime Minister for the generous hospitality accorded to him and his delegation. The President of Azerbaijan thanked the Prime Minister for Pakistan’s continued support on the Nagorno’ Karabakh region. President Ilham Aliyev expressed concern over the escalation of human rights violations in Indian Occupied Kashmir and reiterated Azerbaijan’s support for the exercise of the right to self determination for people of Jammu & Kashmir.

The Two sides signed the Inter-Governmental Agreement (IGA) between the Government of the Republic of Azerbaijan and the Government of the Islamic Republic of Pakistan on cooperation in the field of Energy. Mr. Natig Aliyev, Minister of Energy, of Azerbaijan and Mr. Shahid Khaqan Abbassi Minister for Petroleum & Natural Resources of Pakistan signed the agreement.