Pakistan and Azerbaijan signed on Friday a historical agreement for an Azerbaija investment of $ 2 billion in Pakistan’s economy outside the 17th Summit of the Economic Cooperation Organization (ECO), marking a significant impulse to bilateral investment.
The pact was ended in the presence of Prime Minister Shehbaz Sharif, the Vice Prime Minister and Minister of Foreign Affairs, Ishaq Dar, and the Minister of Economy of Azerbaijan, Mikayil Jabbarov.
The agreement, which follows the discussions between Prime Minister Shehbaz and the president of Azerbaiyani, Ilham Aliyev, prepares the stage for a more detailed memorandum that will be formalized during President Aliyev’s next visit to Pakistan.
The prime minister described the agreement as a historical milestone in the relations of Pakistan-Azerbaijan and said that the two nations had agreed to expand cooperation in commerce, investment, the management of water resources and the conservation of glaciers.
“We are grateful to the president of Azerbaijan for investing in Pakistan,” the prime minister told journalists in Shusha after the signature ceremony. “This association will grow in the future.”
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The agreement improves the continuous cooperation headed by the diplomatic missions of Pakistan. Prime Minister Shehbaz also highlighted the commitments of Eco member countries to strengthen regional connectivity, sustainable development and peace.
The prime minister concluded his two -day visit and started from Fuzuli airport on Friday. The Minister of Education and Sciences, Emin Amrullayev, Ambassador Azzro, Khazar Farhadov, the Pakistani envoy Qasim Mohiuddin and the senior officials.
During his visit, Prime Minister Shehbaz participated in the Eco Summit and held bilateral meetings with the presidents of Azerbaijan, Iran, Türkiye and Uzbekistan, focusing on regional stability and economic collaboration.
