Azerbaijan commits $2bn investment in Pakistan

In a significant development marking a new chapter in bilateral economic ties, Azerbaijan on Friday signed an investment agreement worth $2 billion for projects in Pakistan.

The agreement was inked in the presence of Prime Minister Muhammad Shehbaz Sharif during his visit to Azerbaijan to attend the 17th ECO Summit, the Prime Minister’s Office said in a statement.

The deal was signed by Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijan’s Minister of Economy Mikayil Jabbarov.

According to Prime Minister’s Office, this agreement is part of a broader strategy to deepen economic and investment cooperation between the two countries.

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The final and detailed framework of the investment plan is expected to be formalized during the upcoming visit of Azerbaijani President Ilham Aliyev to Pakistan.

It noted that the agreement signals a historic peak in bilateral trade and investment relations, and is expected to significantly boost investor confidence and strategic collaboration across key sectors.

The PMO stated that the groundwork for the investment deal was laid through extensive consultations held prior to the visit.

These included engagements led by the Deputy PM, Pakistan’s diplomatic mission, and inter-ministerial delegations focused on enhancing cooperation in energy, infrastructure, and industrial sectors.

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Pakistan and Azerbaijan have also agreed to hold further technical exchanges to identify additional areas of mutual interest and partnership.

The announcement comes amid Islamabad’s renewed efforts to attract foreign direct investment and diversify its economic partnerships in the region.