Azerbaijan to invest $2bln in Pakistan's economy

Azerbaijan plans to invest around $2 billion in Pakistan's economy at the initial stage, Azerbaijani President Ilham Aliyev said in a press statement following talks with Pakistani Prime Minister Shehbaz Sharif in Islamabad.

"We plan for the total volume of our investments to be about $2 billion at the initial stage. We have already considered several projects in the areas of energy, infrastructure, transportation, and many others, including the defense industry, where we are very successfully collaborating," Ilham Aliyev said.

He noted that Azerbaijan and Pakistan plan to boost the volume of mutual trade, with the parties having signed an agreement on preferential trade for this purpose.

The Azerbaijani president stressed that Baku-Islamabad brotherhood is based on deep feelings between its peoples, which go back to centuries.

"We are brothers, we are friends. We support each other on every issue on every international case, in every international institution. When it comes to the case, which we introduce, our brothers support us and the same vice versa. Our straightforward support on the issue of Jammu and Kashmir is our commitment to our brotherhood and also our respect to international law. The rights of Kashmiris are ignored and violated for decades. UN Security Council resolutions clearly indicate how this issue must be resolved. But unfortunately, UN Security Council resolutions have no mechanism of implementation," Ilham Aliyev said.