Pakistan and Azerbaijan on Friday signed a landmark agreement for a $2 billion Azerbaijani investment in Pakistan’s economy on the sidelines of the 17th Economic Cooperation Organization (ECO) summit, marking a significant boost to bilateral investment.
The pact was finalised in the presence of Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Azerbaijan’s Economy Minister Mikayil Jabbarov.
The agreement, which follows discussions between PM Shehbaz and Azerbaijani President Ilham Aliyev, sets the stage for a more detailed memorandum to be formalised during President Aliyev’s upcoming visit to Pakistan.
The prime minister described the deal as a historical milestone in Pakistan-Azerbaijan relations and said the two nations had agreed to expand cooperation in trade, investment, water resource management and glacier conservation.
“We are thankful to the President of Azerbaijan for investing in Pakistan,” the premier told reporters in Shusha after the signing ceremony. “This partnership will grow manifold in the future.”
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The agreement enhances ongoing cooperation spearheaded by Pakistan’s diplomatic missions. PM Shehbaz also highlighted commitments by ECO member countries to strengthen regional connectivity, sustainable development and peace.
The prime minister concluded his two-day visit and departed from Fuzuli Airport on Friday. He was seen off by Education and Science Minister Emin Amrullayev, Azerbaijani Ambassador Khazar Farhadov, Pakistani envoy Qasim Mohiuddin, and senior officials.
During his visit, PM Shehbaz participated in the ECO summit and held bilateral meetings with the presidents of Azerbaijan, Iran, Turkey, and Uzbekistan, focusing on regional stability and economic collaboration.
