Investment Agreements
Prime Minister Shehbaz Sharif confirmed on Friday that Pakistan and Azerbaijan have officially signed investment agreements worth a significant $2 billion, marking a new chapter in their bilateral economic relationship. The announcement came during PM Shehbaz’s official visit to Shusha, Azerbaijan, where he also attended the 17th Economic Cooperation Organization (ECO) Summit.
The signing ceremony took place in the presence of Prime Minister Shehbaz Sharif, where Deputy Prime Minister and Foreign Minister Ishaq Dar signed on Pakistan’s behalf, while Azerbaijani Minister of Economy Mikayil Jabbarov represented Baku. The prime minister praised Azerbaijan’s substantial investment commitment and expressed deep appreciation for the hospitality extended by the host nation.
PM Shehbaz described his meeting with Azerbaijani President Ilham Aliyev as “excellent and result-oriented,” and congratulated him on the successful hosting of the ECO Summit. He emphasized that the agreements represent not just an economic milestone but a strategic breakthrough, ushering in a new era of partnership and cooperation between the two brotherly countries.
The $2 billion investment agreements focus on various sectors of Pakistan’s economy and are part of broader efforts to deepen bilateral ties under the Pakistan-Azerbaijan strategic framework.
According to officials, the finalization of the investment framework was the result of months of high-level engagement involving Pakistan’s diplomatic mission, Deputy Prime Minister Ishaq Dar, and other senior officials. A comprehensive and conclusive agreement is expected to be signed during President Ilham Aliyev’s upcoming visit to Pakistan.
The summit also saw broader regional collaboration among ECO member states, with renewed commitments to work together on issues such as trade, culture, climate change, and environmental protection. PM Shehbaz underscored the urgency of addressing glacial melting and other ecological challenges that threaten regional stability and sustainability.
On the sidelines of the ECO Summit, PM Shehbaz also held separate meetings with Iranian President Dr. Masoud Pezeshkian and Turkish President Recep Tayyip Erdoğan.
During his meeting with President Pezeshkian, both leaders reviewed the progress on bilateral cooperation and reaffirmed their commitment to further strengthening Pakistan-Iran ties through mutual coordination and diplomacy. PM Shehbaz condemned Israel’s aggression against Iran and praised Tehran’s restraint and decision to move toward a ceasefire.
In his discussion with Turkish President Erdoğan, the two leaders conducted a detailed review of Pakistan-Türkiye relations, vowing to bolster cooperation in trade, defense, energy, regional connectivity, and investment. Both sides emphasized the importance of strategic collaboration in achieving shared regional and economic goals.
The prime minister’s engagements at the ECO Summit signal a renewed diplomatic drive to advance Pakistan’s regional partnerships and economic interests through high-level dialogue and cooperative initiatives.
