ISLAMABAD: Azerbaijan has announced an exemption of customs duty on rice imports from Pakistan till December 31, 2027.
Azeri Ambassador to Pakistan Khazar Farhadov said in a tweet that the tax exemption announcement would significantly increase trade turnover and enhance the brotherly ties between the two countries.
Rice exports expected to grow by $100mn per annum
Pakistan’s rice exports would probably witness a boost of $100 million per annum amid the tax exemption, said Rafique Suleman, Convener of the Rice Committee at the Federation of Pakistan Chambers of Commerce and Industry.
He added that the opening of a new avenue was a good effort by the Ministry of Commerce.
Pakistan-Azerbaijan Ties
Islamabad and Baku enjoy excellent brotherly relations, having supported each other on various regional as well as international fora.
Pakistan was among the first countries that recognized the independence of the Republic of Azerbaijan on December 12, 1991.
The two countries established diplomatic ties in 1992.
Pakistan’s embassy to Azerbaijan was opened on March 12, 1993. Meanwhile, Azerbaijan’s embassy in Pakistan was opened on August 24, 1997.
