PM Sharif discusses trade, investment and regional ties with ECO leaders on summit sidelines

Prime Minister Shehbaz Sharif (right) addresses the 17th Economic Cooperation Organization (ECO) summit in Khankendi, Azerbaijan, on July 4, 2025. (PID)
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Updated 04 July 2025
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PM Sharif discusses trade, investment and regional ties with ECO leaders on summit sidelines

  • The Pakistani prime minister meets the presidents of Türkiye, Iran, Azerbaijan and Uzbekistan
  • Sharif reaffirms his administration’s resolve to further strengthen relations with these countries

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday held a series of meetings with the presidents of Türkiye, Iran, Azerbaijan and Uzbekistan on the sidelines of the 17th Economic Cooperation Organization (ECO) summit in Khankendi, Azerbaijan, reaffirming Pakistan’s commitment to regional peace, connectivity and enhanced bilateral trade and investment.

The two-day summit, held from July 3-4, focused on promoting economic cooperation, sustainable development and regional integration among ECO member states.

Sharif led Pakistan’s delegation, using the opportunity to deepen bilateral and multilateral ties with key regional partners.

In his meeting with Turkish President Recep Tayyip Erdoğan, the two leaders reviewed the full spectrum of bilateral relations and vowed to accelerate progress in critical areas.

“The two leaders reiterated their resolve to bring about meaningful progress in relations... [emphasizing] the importance of deepening cooperation in trade, defense, energy, connectivity and investment,” a statement from the Prime Minister’s Office (PMO) said.

To advance this agenda, both sides agreed to exchange high-level delegations to finalize understandings reached between the sides.

Sharif reaffirmed Pakistan’s “unwavering commitment” to working closely with Türkiye to promote peace, stability and sustainable development in the region.

In another key engagement, the Pakistani prime minister met Iranian President Dr. Masoud Pezeshkian, with both leaders reviewing the implementation of previous agreements to strengthen bilateral ties.

Sharif praised Iran’s leadership during the recent conflict with Israel and welcomed Tehran’s decision to agree to a ceasefire.

“The Prime Minister reaffirmed Pakistan’s unwavering solidarity with the people and Government of Iran and Pakistan’s strong commitment to continue working closely with Iran for peace in the region through dialogue and diplomacy,” said another PMO statement.

In turn, President Pezeshkian thanked Pakistan for its diplomatic support during the crisis and acknowledged its role in efforts to de-escalate tensions.

The prime minister also held talks with Azerbaijan’s President Ilham Aliyev, in what was their third bilateral meeting this year. The two leaders agreed to further strengthen their economic partnership, especially by accelerating Azerbaijan’s investments in Pakistan.

“The two leaders agreed to enhance their cooperation in the fields of trade and investment while expressing satisfaction over the progress made regarding the investment prospects,” the PMO said.

Sharif invited President Aliyev to visit Pakistan, noting that recent exchanges had significantly strengthened bilateral ties.

The Azerbaijan leader had previously announced a $2 billion investment package for Pakistan during a visit to Islamabad in 2024, and the two countries have also deepened defense cooperation, including Islamabad’s sale of JF-17 fighter jets to Baku.

In his meeting with Uzbek President Shavkat Mirziyoyev, Sharif focused on regional integration, energy cooperation and the Trans-Afghan Railway Project, which is seen as vital for unlocking trade corridors between Central and South Asia.

“The two leaders agreed on visits of their senior ministers to Tashkent and Islamabad to finalize necessary agreements,” the PMO said, adding that the two sides viewed their cultural and historical ties as a strong foundation for broader collaboration.


Pakistan terms climate change, demographic pressures as ‘pressing existential risks’

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Pakistan terms climate change, demographic pressures as ‘pressing existential risks’

  • Pakistan has suffered frequent climate change-induced disasters, including floods this year that killed over 1,000
  • Pakistan finmin highlights stabilization measures at Doha Forum, discusses economic cooperation with Qatar 

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Saturday described climate change and demographic pressures as “pressing existential risks” facing the country, calling for urgent climate financing. 

The finance minister was speaking as a member of a high-level panel at the 23rd edition of the Doha Forum, which is being held from Dec. 6–7 in the Qatari capital. Aurangzeb was invited as a speaker on the discussion titled: ‘Global Trade Tensions: Economic Impact and Policy Responses in MENA.’

“He reaffirmed that while Pakistan remained vigilant in the face of geopolitical uncertainty, the more pressing existential risks were climate change and demographic pressures,” the Finance Division said. 

Pakistan has suffered repeated climate disasters in recent years, most notably the 2022 super-floods that submerged one-third of the country, displaced millions and caused an estimated $30 billion in losses. 

This year’s floods killed over 1,000 people and caused at least $2.9 billion in damages to agriculture and infrastructure. Scientists say Pakistan remains among the world’s most climate-vulnerable nations despite contributing less than 1 percent of global greenhouse-gas emissions.

Aurangzeb has previously said climate change and Pakistan’s fast-rising population are the only two factors that can hinder the South Asian country’s efforts to become a $3 trillion economy in the future. 

The finance minister noted that this year’s floods in Pakistan had shaved at least 0.5 percent off GDP growth, calling for urgent climate financing and investment in resilient infrastructure. 

When asked about Pakistan’s fiscal resilience and capability to absorb external shocks, Aurangzeb said Islamabad had rebuilt fiscal buffers. He pointed out that both the primary fiscal balance and current account had returned to surplus, supported significantly by strong remittance inflows of $18–20 billion annually from the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) regions. 

Separately, Aurangzeb met his Qatari counterpart Ali Bin Ahmed Al Kuwari to discuss bilateral cooperation. 

“Both sides reaffirmed their commitment to strengthening economic ties, particularly by maximizing opportunities created through the newly concluded GCC–Pakistan Free Trade Agreement, expanding trade flows, and deepening energy cooperation, including long-term LNG collaboration,” the finance ministry said. 

The two also discussed collaboration on digital infrastructure, skills development and regulatory reform. They agreed to establish structured mechanisms to continue joint work in trade diversification, technology, climate resilience, and investment facilitation, the finance ministry said.