Baku, 23 November 2022 (TDI): Azerbaijan has decided to exempt rice imported from Pakistan from import customs duties, according to Cabinet Resolution No. 418.
The Cabinet of Ministers of Azerbaijan has made the decision to exempt the rice imported from the Islamic Republic of Pakistan from import duties by 31.12.2027.
The Ambassador of Azerbaijan to Pakistan, Khazar Farhadov shared the news through his official Twitter handle, yesterday.
The exemption, which will last for five years, represents efforts to promote trade between the two friendly nations. The current Pakistani administration has taken a number of measures to increase trade between Pakistan and Azerbaijan.
Both nations are currently in talks to strengthen their commercial ties at various levels. The government of Pakistan has praised the actions taken by Azerbaijan’s leadership to promote trade between the two nations.
According to data from the UN’s COMTRADE database on global trade, Azerbaijan imported rice worth $1.57 million from Pakistan in 2021.
Azerbaijan and Pakistan each have Embassies in the other’s respective capital cities. The capitals of both nations are communicating more frequently. Likewise, the two are also strategic partners.
After the USSR’s disintegration, on June 9, 1992, the Republic of Azerbaijan gained independence. Subsequently, current relations were established between the two partners.
It is pertinent to note that, after Turkiye, Pakistan became the second nation to recognize Azerbaijan on December 12, 1991.
Between the two countries, trade and cooperation have steadily increased, and there have been numerous summits on how to boost trade between the two countries.