LAHORE: Azerbaijan’s Ambassador, Khazar Farhadov, reaffirmed Azerbaijan’s commitment to bolstering bilateral trade relations with Pakistan during a meeting with the business community at the Lahore Chamber of Commerce & Industry (LCCI) on Tuesday.
He emphasized the significance of direct flights between the two countries introduced by AZAL and PIA last year, expressing a desire to expand flight connectivity, aiming for daily flights from various cities. Ambassador Farhadov underscored the pivotal role of the private sector in enhancing economic ties.
LCCI President Kashif Anwar welcomed the Ambassador, acknowledging the longstanding diplomatic, historical, and cultural ties between Pakistan and Azerbaijan.
Ambassador Farhadov expressed optimism regarding the significant increase in trade turnover between the two nations, attributed to the introduction of direct flights. He highlighted the rise in Pakistani students studying in Azerbaijan, emphasizing the importance of private sector engagement in fostering 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 SOCAR Trading’s provision of LNG to Pakistan.
Farhadov stressed the importance of people-to-people contact and the accessibility of the Azerbaijani Embassy, expressing Azerbaijan’s interest in participating in potential joint projects under Pakistan’s 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, citing Azerbaijan’s reception of tens of thousands of Pakistani tourists annually. The Ambassador highly appreciated the tenfold increase in direct and indirect trade turnover over the last two years, with the contribution of SOCAR Trading.
The Ambassador also invited Pakistani rice exporters to capitalize on opportunities after Azerbaijan’s government announced an exemption of customs duty on rice imports from Pakistan until December 31, 2027.
LCCI President Kashif Anwar underscored Azerbaijan’s strategic significance as a linchpin in regional trade and transportation networks, highlighting its prime location and abundant natural resources.
While recognizing the existing trade potential between the two countries, Kashif Anwar noted that bilateral trade volume had not yet reached its full potential. He highlighted Pakistan’s exports of rice, textiles, and fruits to Azerbaijan, along with imports of urea from Azerbaijan.
Anwar stressed the need for diversification in product lines and avenues of cooperation to maximize bilateral trade opportunities, suggesting potential areas such as pharmaceuticals, surgical instruments, textiles, IT, and tourism for collaboration.
He emphasized the pivotal role of commercial sections of embassies in facilitating trade and fostering people-to-people contacts. Anwar mentioned ongoing efforts to finalize Preferential Trade and Transit Trade Agreements to further enhance bilateral trade.
Highlighting Pakistan’s Special Investment Facilitation Council (SIFC), he encouraged Azerbaijani investors to explore investment opportunities across sectors such as defense, agriculture, minerals, IT, and energy. Anwar also praised the Punjab government’s initiatives to improve the business environment through streamlined processes at Business Facilitation Centers (BFC).
