Azerbaijan eyes more energy partnerships

Says trade turnover increased ten folds in last two years on increased flights

LAHORE:

Azerbaijan’s Ambassador Khazar Farhadov emphasised his country’s dedication to enhancing bilateral trade ties with Pakistan durin+g a meeting with the business community at the Lahore Chamber of Commerce & Industry (LCCI) on Tuesday.

He highlighted the launch of direct flights between the two nations by AZAL and PIA since last year and expressed a desire to expand flight connectivity, aiming for daily flights from various cities.

Farhadov expressed optimism about the significant increase in trade turnover between Azerbaijan and Pakistan, attributed to the introduction of direct flights. He also noted a substantial rise in the number of Pakistani students studying in Azerbaijan.

The ambassador stressed the importance of market exploration, partnerships, and reciprocal investments between the two countries, citing the successful trade relations between Azerbaijan and Turkey as a model.

Read Azerbaijan eager to promote bilateral trade

Farhadov advocated for the establishment of preferential and transit trade agreements between the two countries and identified tourism as a promising area for collaboration. He appreciated the tenfold increase in direct and indirect trade turnover in the last two years, with contributions from Socar Trading.

Additionally, the envoy invited Pakistani rice exporters to capitalise on opportunities following his government’s announcement of an exemption of customs duty on rice imports from Pakistan until December 31, 2027.

LCCI President Kashif Anwar welcomed the envoy and highlighted Azerbaijan’s strategic significance as a crossroad between Asia and Europe and underscored its prime location and abundant natural resources, positioning it as a linchpin in regional trade and transportation networks. He stressed the need for diversification in product lines and avenues of cooperation to maximise bilateral trade opportunities.

Published in The Express Tribune, February 21^st, 2024.

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