SHUSHA, Azerbaijan: Pakistan secured a $2 billion investment commitment from Azerbaijan on Friday as the two nations signed a landmark partnership agreement.
The agreement reflects the continued flow of investment into Pakistan under the leadership of Prime Minister Muhammad Shehbaz Sharif.
In the presence of the prime minister, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov signed the agreement for a total investment of $2 billion by Azerbaijan in Pakistan’s economic sector. The Pakistani delegation was also present on the occasion.
The agreement was signed between the two countries following a cordial meeting between Prime Minister Shehbaz Sharif and Azerbaijani President Ilham Aliyev in Khankandi.
The final and detailed agreement will be signed during the Azerbaijani president’s visit to Pakistan.
The agreement has elevated investment and trade relations between the two countries to a historic level. It is expected to serve as a milestone for further strengthening brotherly ties and enhancing trade partnerships.
Before the prime minister’s recent visit, the deputy prime minister and foreign minister, Pakistan’s diplomatic mission, and relevant delegations reached a consensus on various aspects of the agreement.
Both countries also agreed to further exchanges aimed at promoting cooperation in multiple sectors.
Speaking to the media in Shusha, Prime Minister Shehbaz Sharif said that Pakistan and Azerbaijan had signed a $2 billion investment agreement, adding that future investments would increase manifold.
“We are thankful to the president of Azerbaijan for investing in Pakistan,” he remarked.
He added that he had a productive and meaningful meeting with the president of Azerbaijan.
The prime minister said member countries at the Economic Cooperation Organisation (ECO) summit had agreed to enhance cooperation in trade, investment, water resources, and other sectors.
He further said the member countries had also agreed to increase cooperation on the issue of glacier melting.
