Azerbaijan has announced plans to establish a trade centre in Lahore, aiming to further deepen economic relations between the two countries and open new avenues for business cooperation.
The announcement was made by Azerbaijan’s Ambassador to Pakistan, Khazar Farhadov, during his address at the Lahore Chamber of Commerce and Industry on Monday.
The proposed Azerbaijan Trade Centre will serve as a platform to bring the business communities of both nations closer together.
In addition to the trade centre, the Pakistan-Azerbaijan Chamber of Commerce will also be set up to facilitate stronger bilateral economic ties.
Ambassador Farhadov emphasized the importance of Azerbaijan’s duty-free access to Pakistani rice, which will be granted until 2027.
This move presents a significant opportunity for traders, especially from Punjab, renowned for producing high-quality Basmati rice.
The ambassador assured Pakistani traders that Azerbaijan will provide maximum facilitation for those exploring trade opportunities in his country.
In addition to rice trade, the ambassador also invited Pakistani investors to explore opportunities in Azerbaijan’s rapidly developing infrastructure and energy sectors, highlighting the country’s strategic position as a crucial international transport corridor between Asia and Europe.
Since the introduction of direct flights between Azerbaijan and Pakistan, bilateral trade has surged, tripling since 2022, with trade volume now far exceeding $10 million.
The growing people-to-people connections are also reflected in the fact that over 80,000 Pakistanis visited Azerbaijan last year.
This trade centre initiative signals a promising future for Pakistan-Azerbaijan economic relations, paving the way for increased trade and investment between the two nations.
