In a significant step toward strengthening economic cooperation, Pakistan and Azerbaijan on Friday signed a $2 billion investment agreement in Shusha during the 17th ECO Summit.
The signing ceremony took place in the presence of Prime Minister Muhammad Shehbaz Sharif, following a meeting with Azerbaijani President Ilham Aliyev in Khankendi. The agreement was signed by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijan’s Minister of Economy Mikayil Jabbarov. Members of the Pakistani delegation also attended the event.
Described as a historic advancement in bilateral relations, the agreement marks a major milestone in trade and investment cooperation between the two countries. According to officials, the detailed and final version of the agreement will be signed during President Aliyev’s upcoming visit to Pakistan.
Speaking to the media in Shusha, Prime Minister Shehbaz Sharif confirmed the development and expressed optimism about expanding the investment partnership. “Pakistan and Azerbaijan signed an investment agreement of $2 billion,” he said, adding, “in future, the investment will be increased manifold.”
“We are thankful to the President of Azerbaijan for investment in Pakistan,” the prime minister remarked, terming his meeting with President Aliyev as “productive and useful.”
The agreement follows months of diplomatic coordination, with prior discussions held by Pakistan’s foreign office and diplomatic mission alongside Azerbaijani counterparts to align on the agreement’s various aspects. Both sides have also agreed to continue exchanging delegations to expand cooperation across multiple sectors.
Commenting on broader regional cooperation, Prime Minister Shehbaz said ECO member states had agreed to enhance collaboration in key areas such as trade, investment, water resources, and addressing the melting of glaciers as part of their climate change response.
