Pakistan, Azerbaijan sign $2b deal at ECO summit
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Investment follows talks between Shehbaz and Azerbaijan’s president, final MoU expected during Aliyev’s Pakistan visit
Deputy Prime Minister and Foreign Minister Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov sign the $2bn investment agreement in the presence of Prime Minister Shehbaz Sharif. Photo: Radio Pakistan
Pakistan and Azerbaijan on Friday signed a landmark agreement for a $2 billion Azerbaijani investment in Pakistan’s economy on the sidelines of the 17th Economic Cooperation Organization (ECO) summit, marking a significant boost to bilateral investment.
The pact was finalised in the presence of Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Azerbaijan’s Economy Minister Mikayil Jabbarov.
The agreement, which follows discussions between PM Shehbaz and Azerbaijani President Ilham Aliyev, sets the stage for a more detailed memorandum to be formalised during President Aliyev’s upcoming visit to Pakistan.
The prime minister described the deal as a historical milestone in Pakistan-Azerbaijan relations and said the two nations had agreed to expand cooperation in trade, investment, water resource management and glacier conservation.
“We are thankful to the President of Azerbaijan for investing in Pakistan,” the premier told reporters in Shusha after the signing ceremony. “This partnership will grow manifold in the future.”
The agreement enhances ongoing cooperation spearheaded by Pakistan’s diplomatic missions. PM Shehbaz also highlighted commitments by ECO member countries to strengthen regional connectivity, sustainable development and peace.
During his visit, PM Shehbaz participated in the ECO summit and held bilateral meetings with the presidents of Azerbaijan, Iran, Turkey, and Uzbekistan, focusing on regional stability and economic collaboration.
Reference Link:- https://tribune.com.pk/story/2554209/pakistan-azerbaijan-sign-2b-deal-at-eco-summit
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
