Pakistan and Azerbaijan have decided to enhance the scope of bilateral investment up to two billion dollars in areas of mutual beneficial projects.

The decision was made during talks between Prime Minister Shehbaz Sharif and President of Azerbaijan Ilham Aliyev at the Presidential Palace in Baku on Monday.

Later addressing a joint news conference, Prime Minister Shehbaz Sharif said all the political parties in Pakistan are united to further strengthen friendship between the two countries. He said the cordial and friendly relations between Pakistan and Azerbaijan should be expanded to the economic front as well.

He expressed the confidence that the Memorandums of Understanding signed today and agreements which will be signed later in April this year will go a long way in promoting our sincere efforts to have very good dividends in future.

He said it is the time that both Pakistan and Azerbaijan should enhance their defence ties to higher level. The commitment to initiate joint manufacturing of defence equipment will also have far reaching impacts.

The Prime Minister termed the proposal of Azerbaijan President for international infrastructure corridor as need of the hour saying that Pakistan's Gwadar Port can also be used for imports and exports. He said it will bring very transformative and positive impact in the entire region. He said Pakistan fully supports this vision of Azerbaijan President.

Shehbaz Sharif also thanked Ilham Aliyev for extending very warm hospitality to his entourage during visit to the Azerbaijan.

The Prime Minister expressed the commitment to solidify and strengthen relationship and brotherhood through mutual efforts.

Shehbaz Sharif said Pakistan has always supported Azerbaijan on Karabakh issue and Azerbaijan extended its support on the issue of Kashmir without any political conditions.

Turning to Palestine issue, the Prime Minister underscored the importance of permanent ceasefire saying that people of Gaza now need permanent ceasefire. He said today is the time that pause in Gaza should be converted into permanent ceasefire and dream of two-state solution to area should be materialized.

Shehbaz Sharif also extended his gratitude to the Azerbaijan President for dispatching delegation to Islamabad for further beautification of the federal capital.

In his remarks, President of Azerbaijan Ilham Aliyev said the two sides discussed important bilateral, regional and international issues and emphasized the close partnership between Pakistan and Azerbaijan. He said we reconfirmed strategic importance of our cooperation between the government and people to people level.

The President of Azerbaijan said we will continue to support each other on all international issues and sovereignty and territorial integrity of our countries.

He said the two sides also discussed trade and economic sectors and also jointly expressed regret that our trade turnover is only several million dollars and stressed the need to increase it as we have potential to do it.

Ilham Aliyev said we discussed to finalize all the agreements regarding international connectivity, energy, economy and mining sectors within one month. He said today we signed ten MoUs which will create a good framework for future cooperation.

The Azerbaijan President said during the discussion, we witnessed an increase in our trade turnover.

He said we also discussed cooperation in Defence area particularly in defence industry. He said Azerbaijan already acquires defence equipment from Pakistan and we are satisfied with the quality of this equipment and we will continue it in future.

He said Pakistan and Azerbaijan also discussed opportunities of joint manufacturing of defence industry products. He said the two sides also discussed projects related to connectivity and transportation.

The Azerbaijan President praised Prime Minister Shehbaz Sharif for his vision and reforms which he is implementing in Pakistan saying that it yielded important results in areas of economy and political stability.