Azerbaijan’s Diplomat Urges for Enhancing Trade Ties with Pakistan
Published on: February 21, 2024.
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Ambassador Khazar Farhadov of Azerbaijan reaffirmed Azerbaijan’s commitment to strengthening trade relations with Pakistan during his speech at the Lahore Chamber of Commerce & Industry (LCCI). He highlighted the introduction of direct flights between the two countries and expressed his desire for daily flights from various cities. The ambassador emphasized the important role of the private sector in fostering economic ties between the two nations.
LCCI President Kashif Anwar warmly welcomed the ambassador and acknowledged the historical and cultural ties between Pakistan and Azerbaijan. Ambassador Farhadov expressed optimism about the significant increase in trade turnover between the two countries due to the introduction of direct flights. He noted the rising number of Pakistani students studying in Azerbaijan and emphasized the importance of private sector engagement in promoting robust economic ties.
The ambassador emphasized the need for market exploration, partnerships, and reciprocal investments between Pakistan and Azerbaijan, citing successful trade relations between Azerbaijan and Turkey as a model. He highlighted Azerbaijan’s position as a key international transport corridor and mentioned that Azerbaijan’s Socar Trading company provides LNG to Pakistan. The ambassador also stressed the significance of people-to-people contact and the accessibility of the Azerbaijani Embassy, expressing Azerbaijan’s interest in participating in joint projects under Pakistan’s Special Investment Facilitation Council (SIFC).
He advocated for the establishment of preferential and transit trade agreements between the two countries and identified tourism as a promising area for collaboration, noting Azerbaijan’s popularity among Pakistani tourists. The ambassador invited Pakistani rice exporters to take advantage of the opportunities after Azerbaijan’s government declared an exemption of customs duty on rice imports from Pakistan until December 31, 2027.
LCCI President Kashif Anwar underlined Azerbaijan’s strategic importance as a crossroad between Asia and Europe and emphasized its prime location and abundant natural resources. He highlighted Pakistan’s exports of rice, textiles, and fruits to Azerbaijan and imports of urea from Azerbaijan. Anwar emphasized the need for diversification in product lines and cooperation in various sectors like pharmaceuticals, surgical instruments, textiles, IT, and tourism to maximize bilateral trade opportunities.
The LCCI President also emphasized the crucial role of commercial sections of embassies in facilitating trade and fostering people-to-people contacts. He mentioned the recent Pakistan-Azerbaijan Bilateral Political Consultations, which focused on deepening cooperation in energy, IT, agriculture, and education. Anwar also mentioned ongoing efforts to finalize Preferential Trade and Transit Trade Agreements to enhance bilateral trade further. He encouraged Azerbaijani investors to explore investment opportunities in sectors such as defense, agriculture, minerals, IT, and energy. Anwar applauded the Government of Punjab’s initiatives to improve the business environment through streamlined processes at Business Facilitation Centers.
Source: [Nation.com.pk](https://www.nation.com.pk)
