Azerbaijan signs $2 billion investment agreements with Pakistan on sidelines of ECO summit

Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar (right sitting) and Azerbaijan’s Minister of Economy Mikayil Jabbarov (left sitting), sign agreements for $2 billion of investment from Azerbaijan in Pakistan’s economic sector, in Shusha, Azerbaijan, on July 4, 2025. (Pakistan PMO)
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Updated 04 July 2025
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Azerbaijan signs $2 billion investment agreements with Pakistan on sidelines of ECO summit

  • Development came after sustained engagement between Pakistani and Azerbaijani officials recently
  • PM Shehbaz Sharif also held separate meetings with the presidents of Turkiye, Iran and Uzbekistan

ISLAMABAD: Azerbaijan signed investment agreements worth $2 billion with Pakistan on Friday to boost economic cooperation, said an official statement released in Islamabad, in a major development during Prime Minister Shehbaz Sharif’s visit to the Central Asian state for the Economic Cooperation Organization (ECO) summit.

The two-day summit, hosted in Khankendi, Azerbaijan, focused on a sustainable and climate-resilient future for the region.

In his address, Sharif warned that climate change posed an existential threat to ECO member states, highlighting the impact of melting glaciers, floods, desertification and declining crop yields. He also emphasized more trade, tourism and regional integration to enhance economic prosperity.

“In the presence of Prime Minister Muhammad Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijan’s Minister of Economy Mikayil Jabbarov signed agreements for $2 billion of investment in Pakistan’s economic sector from Azerbaijan,” the PM Office announced in a statement.

The agreements were signed following a bilateral meeting between Sharif and Azerbaijani President Ilham Aliyev, with officials hoping for a more detailed agreement during Aliyev’s upcoming visit to Pakistan.

“The agreement has elevated investment and trade relations between the two countries to a historic level and will serve as a guarantee for further strengthening their brotherly ties and commercial partnership,” the official Pakistani statement added.

It also described the development as a result of sustained engagement between Pakistani ministries and diplomats and their Azerbaijani counterparts over recent months.

SIDELINE DIPLOMACY

On the sidelines of the summit, Sharif held separate meetings with the presidents of Turkiye, Iran and Uzbekistan, reaffirming Pakistan’s commitment to regional cooperation, peace and connectivity.

In his meeting with Turkish President Recep Tayyip Erdoğan, both 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,” said a separate handout by the PM Office.

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

In another key engagement, the Pakistani prime minister met Iranian President Dr. Masoud Pezeshkian, with both sides 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,” the statement said.

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 both sides viewed their cultural and historical ties as a strong foundation for broader collaboration.


Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

Updated 03 January 2026
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Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

  • PTI says access to jailed founding leader essential for talks to be considered credible
  • Government says it’s ready for dialogue but nothing will happen until Khan favors the idea

ISLAMABAD: Pakistan’s jailed former prime minister Imran Khan’s party said on Saturday it would only consider the government’s offer for talks credible if it is accompanied by “concrete confidence-building measures,” such as unhindered access to its founding leader in a high-security prison in Rawalpindi.

Last month, Prime Minister Shehbaz Sharif said the government was fully prepared to hold a dialogue with Khan’s Pakistan Tehreek-e-Insaf (PTI) party to address political polarization that has deepened since the downfall of the PTI administration in a parliamentary no-confidence vote in 2022.

PTI has frequently complained about a state crackdown against its top leadership, including Khan and his wife, who are serving prison sentences in multiple cases ranging from corruption charges to inciting violence against state institutions and attacks on government properties.

Sharif’s offer for talks came amid media reports that PTI wanted a dialogue with the government, though he noted that negotiations would not be allowed to proceed on the basis of “blackmailing” or unlawful demands and would only cater to legitimate issues.

“Announcements of talks, without concrete confidence-building measures, cannot be treated as credible progress,” Azhar Leghari, PTI’s central deputy information secretary, told Arab News.

He recalled that Khan had authorized Mahmood Khan Achakzai and Allama Raja Nasir Abbas to carry forward with the dialogue process, adding that talks “require trust, and trust cannot be built at the cost of constitutional rights or democratic legitimacy.”

“For dialogue to be meaningful, it is essential that these authorized representatives are allowed regular and unhindered access to Imran Khan so that any engagement accurately reflects his views and PTI’s collective position,” he added.

Khan’s family, party and legal team have complained in the past they are stopped by the authorities from meeting the ex-PM in prison. Last month, they also raised concerns about his health, prompting the officials to allow one of his sisters to meet him, who said he was fine.

Shortly thereafter, a scathing message was posted on his social media account, criticizing the army chief. Khan’s post elicited a bitter response from the government and the military amid accusations of inciting people against state institutions.

Leghari’s comments came only a day after Rana Sanaullah, adviser to Prime Minister Sharif on political affairs, said PTI’s “second- or third-tier leadership” wanted dialogue, but nothing was going to happen until Khan favored these negotiations.

He also maintained that while the government was ready for talks, “uncertainty and delays from PTI are preventing progress.”

Meanwhile, a newly formed National Dialogue Committee of former PTI leaders told Arab News it had organized a session on Wednesday, January 7, in the federal capital that will bring together all major political parties, journalists, lawyers and representatives of civil society.

“Our goal is to bring political leaders together so that, while discussing their own issues, they can collectively seek solutions to the nation’s challenges,” Mahmood Baqi Moulvi, a Pakistani politician and member of the committee, said.

“The initiative also builds on previous efforts, including a letter to the prime minister requesting confidence-building measures to enable talks with PTI,” he added.

The National Dialogue Committee had urged the government in the letter to grant parole to jailed party figures in Lahore, including former foreign minister Shah Mahmood Qureshi and Dr. Yasmin Rashid, describing the move as vital for building trust ahead of negotiations.

It had also maintained such a step “would not only create an extremely positive, conducive, and trust-filled environment for the negotiations but would also lay a strong foundation for restoring mutual confidence among all stakeholders.”

While the government has also offered dialogue in the past, PTI leaders have conditioned participation on substantive measures, including what they describe as an end to politically motivated prosecutions and arrests, restoration of fundamental rights, respect for judicial independence and a credible roadmap toward free and fair elections.

“Reconciliation is possible, but it must be based on correcting injustices rather than managing optics,” Leghari said. “A genuine reset requires restoring respect for the Constitution, ending political victimization and allowing democratic processes to function without interference.”

Rana Sanaullah and Deputy Law Minister Barrister Aqeel Malik did not respond to requests for comment.