The Government of the Islamic Republic of Pakistan and the Government of the Azerbaijan Republic hereinafter referred to as the Parties;

Desiring to promote greater economic cooperation between them, particularly with respect to investments by investors of one Party in the territory of the other Party;

Recognizing that agreement upon the treatment to be accorded to such investments will stimulate the flow of capital and technology and the economic development of the Parties;

Agreeing that fair and equitable treatment of investment is desirable in order to maintain a stable framework for investment and maximum effective utilisation of economic resources;

have agreed on the following: