Azerbaijan Explores Additional Energy Partnerships
Published on: February 21, 2024.
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Azerbaijan Aims to Boost Trade Relations with Pakistan
The Ambassador of Azerbaijan, Khazar Farhadov, expressed his country’s commitment to strengthening bilateral trade ties with Pakistan during a meeting with the business community at the Lahore Chamber of Commerce & Industry (LCCI). The ambassador highlighted the launch of direct flights between the two nations by AZAL and PIA, which began last year. He also expressed a desire to expand flight connectivity, aiming for daily flights from various cities.
In addition to the increased flight connectivity, Farhadov expressed optimism about the significant increase in trade turnover between Azerbaijan and Pakistan. He attributed this growth to the introduction of direct flights and noted a substantial rise in the number of Pakistani students studying in Azerbaijan.
To further enhance trade relations, the ambassador stressed the importance of market exploration, partnerships, and reciprocal investments between the two countries. He referred to the successful trade relations between Azerbaijan and Turkey as a model to follow.
Farhadov also advocated for the establishment of preferential and transit trade agreements between Azerbaijan and Pakistan. He identified tourism as a promising area for collaboration and appreciated the tenfold increase in direct and indirect trade turnover in the last two years, with contributions from Socar Trading.
Furthermore, the ambassador invited Pakistani rice exporters to take advantage of opportunities created by his government’s announcement of an exemption of customs duty on rice imports from Pakistan until December 31, 2027. This presents a favorable environment for Pakistani rice exporters to expand their market reach.
LCCI President Kashif Anwar welcomed the ambassador and highlighted Azerbaijan’s strategic significance as a crossroad between Asia and Europe. He emphasized Azerbaijan’s prime location and abundant natural resources, which position it as a linchpin in regional trade and transportation networks. Anwar stressed the need for diversification in product lines and avenues of cooperation to maximize bilateral trade opportunities.
Source: The Express Tribune
