Pakistan and Azerbaijan aimed to boost economic and trade ties by seeking finalization of a bilateral Preferential Trade Agreement (PTA) to increase the bilateral trade between both of countries. Both countries are actively negotiating a Preferential Trade Agreement (PTA), with finalized drafts.
Minister Jam Kamal reiterated Pakistan’s commitment to strengthening commercial and economic ties, emphasizing the importance of people-to-people contact and the signing of the PTA to bolster trade volume and create new business opportunities.
Minister Jam Kamal emphasized the need to extend bilateral trade to its true potential by addressing trade-related issues.
Minister Jam Kamal noted the increase in exports to Azerbaijan from US$ 9.70 million in 2021-22 to US$ 12.08 million in 2022-23, alongside a significant rise in imports primarily due to fertilizers.
Ambassador Khazar Farhadov emphasized the resumption of LNG supplies from Azerbaijan to Pakistan and the potential for mutual investments, particularly in energy and IT sectors.
Azerbaijan exempted Pakistani rice from import customs duty until December 2027, signaling a gesture of goodwill.
