LAHORE: Azerbaijan is set to establish a trade centre in Lahore to strengthen ties between the business communities of both countries and create new opportunities for mutual cooperation.

This was announced by Azerbaijan’s Ambassador Khazar Farhadov during his speech at the Lahore Chamber of Commerce and Industry on Monday.

“We are going to establish Azerbaijan Trade Centre in Lahore and Pakistan-Azerbaijan Chamber of Commerce to bring the business communities of both countries closer and open new avenues for mutual cooperation,” he said.

The ambassador highlighted the duty-free access granted to Pakistani rice by Azerbaijan until 2027, encouraging traders to capitalise on this opportunity, especially considering Punjab’s reputation for producing high-quality Basmati rice. He assured that Azerbaijani authorities would provide maximum facilitation to Pakistani traders exploring opportunities in Azerbaijan. Referring to the positive impact of direct flights between the two countries, the ambassador revealed that bilateral trade volume has tripled since 2022, growing from $10 million to significantly higher levels. He said that over 80,000 Pakistanis visited Azerbaijan last year which reflected the growing interest and people-to-people connections.

The ambassador also invited Pakistani investors to explore opportunities in Azerbaijan’s infrastructure and energy sectors and highlighted the country’s strategic position as a key international transport corridor between Asia and Europe.

Published in Dawn, January 14th, 2025