Daily Times

Ambassador of Azerbaijan Khazar Farhadov emphasized Azerbaijan’s strong commitment to fostering bilateral trade relations with Pakistan during his meeting with business community here at Lahore Chamber of Commerce & Industry (LCCI) on Tuesday.

He highlighted the commencement of direct flights between the two countries since last year by AZAL and PIA, and wished to expand flight connectivity, ultimately aiming for daily flights from various cities. The Ambassador stressed the key role of private sector in driving economic ties. LCCI President Kashif Anwar extended a warm welcome to Ambassador, and acknowledged the enduring diplomatic, historical, and cultural ties between Pakistan and Azerbaijan. Ambassador Khazar Farhadov expressed optimism regarding the significant increase in trade turnover between Azerbaijan and Pakistan, attributed to the introduction of direct flights. He noted a substantial rise in the number of Pakistani students studying in Azerbaijan, underscoring 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 said that Azerbaijan’s Socar Trading Company provides LNG to Pakistan Farhadov stressed the importance of people-to-people contact and the accessibility of the Azerbaijani Embassy, expressing Azerbaijan’s consideration in participating in possible joint projects also 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 Pakistani tourists every year. The Ambassador highly appreciated ten times increase in direct and indirect, with contribution of SOCAR Trading, trade turnover in last two years. The Ambassador also invited Pakistani rice exporter to avail the opportunities after Azerbaijan’s government has announced an exemption of customs duty on rice imports from Pakistan till December 31, 2027.

LCCI President Kashif Anwar underscored Azerbaijan’s strategic significance in the crossroad between Asia and Europe and emphasized on its prime location and abundant natural resources, which position it as a linchpin in regional trade and transportation networks.

While acknowledging the existing trade potential between the two countries, Kashif Anwar noted that the 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. He 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. LCCI President emphasized the pivotal role of commercial sections of embassies in facilitating trade and fostering people-to-people contacts.