On Friday, Pakistan and Azerbaijan signed a historic agreement for an Azerbaijani investment of $ 2 billion in the Pakistani economy on the sidelines of the 17th Summit of Economic Organization (ECO), marking a significant boost on bilateral investment.
The Pact was finalized in the presence of Prime Minister Shehbaz Sharif, Deputy Prime Minister and Minister of Foreign Affairs Ishaq Dar and the Minister of the Economy of Azerbaijan, Mikayil Jabbarov.
The agreement, which follows the discussions between Prime Minister Shehbaz and President Azerbaijani Ilham Aliyev, opens the way to a more detailed memorandum to be formalized during the next visit of President Aliyev to Pakistan.
The Prime Minister described the agreement as a historic stage in Pakistani-Azerbaijan relations and said that the two nations had agreed to extend cooperation in trade, investment, water resources management and the conservation of glaciers.
“We are grateful to the president of Azerbaijan to have invested in Pakistan,” the Prime Minister told Shusha in Shusha after the signature ceremony. “This partnership will develop in the future.”
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The agreement strengthens the current cooperation led by the diplomatic missions of Pakistan. Prime Minister Shehbaz also underlined the commitments of Ecos member countries to strengthen regional connectivity, sustainable development and peace.
The Prime Minister concluded his two -day visit and left Fuzuli airport on Friday. He was seen by the Minister of Education and Sciences Emin Amrullayev, the Azerbaijani ambassador Khazar Farhadov, the Pakistani envoy Qasim Mohiuddin and the senior officials.
During his visit, Prime Minister Shehbaz participated in the Summit of Ecos and held bilateral meetings with the presidents of Azerbaijan, Iran, Turkey and Uzbekistan, focusing on regional stability and economic collaboration.
