The Federal Board of Revenue (FBR) has given the green light for Azerbaijan-registered vehicles to enter Pakistan for transit and bilateral trade, as part of the newly implemented Azerbaijan-Pakistan Transit Trade Rules.
Announced on Thursday under the Azerbaijan-Pakistan Transit Trade Agreement, the rules enable the processing of transit cargo through Pakistan’s designated ports, including Karachi Port, Port Muhammad Bin Qasim, and Gwadar Port.
Under the agreement, Azerbaijan-registered vehicles with valid permits can carry transit cargo into Pakistan without needing to submit financial security for duties and taxes. This exemption is based on a mutual understanding between the two countries, aimed at facilitating smoother trade operations.
To ensure seamless monitoring, Pakistan Customs will oversee the movement of goods using its advanced computerized system. Additionally, transport operators and customs agents involved in handling the cargo are required to maintain a Revolving Insurance Guarantee PD Account with Customs.
This strategic move is expected to boost trade efficiency and strengthen economic ties between Azerbaijan and Pakistan, signaling a significant step towards enhancing bilateral relations.
