Gwadar Port: A Nexus for Pakistan-Azerbaijan Trade Boost

Gwadar Port, part of the CPEC, is poised to become a major trade hub for Pakistan and Azerbaijan. Following a meeting between their leaders, both nations agreed to enhance investment and cooperation in trade, energy, and infrastructure, signing multiple agreements to solidify their partnership.

Gwadar Port, integral to the China-Pakistan Economic Corridor (CPEC), is set to transform into a pivotal trade nexus between Pakistan and Azerbaijan. Discussions between Pakistani Prime Minister Shehbaz Sharif and Azerbaijani President Ilham Aliyev resulted in plans to amplify bilateral investment in mutually beneficial projects up to USD 2 billion.

During talks in Baku, both leaders emphasized the importance of expanding economic cooperation. Prime Minister Sharif supported President Aliyev's proposal for an international infrastructure corridor, while underscoring Gwadar Port's potential in fostering regional trade. Furthermore, the strengthening of defence ties and joint manufacturing of equipment were highlighted as critical areas of collaboration.

A comprehensive agreement was reached, involving multiple sectors such as energy, trade, and tourism. Key agreements included an MoU between SOCAR and Pakistan's Frontier Works Organization for the development of the Machike-Thallian-Tarujabba White Oil Pipeline Project. The nations committed to finalize agreements focused on connectivity, energy, and mining within a month to boost trade volumes.

(With inputs from agencies.)