FBR has approved the entry of Azerbaijan-registered vehicles carrying transit and bilateral trade cargo into Pakistan

The Federal Board of Revenue (FBR) has approved the entry of Azerbaijan-registered vehicles carrying transit and bilateral trade cargo into Pakistan, as part of the newly introduced Azerbaijan-Pakistan Transit Trade Rules 2024.

The rules, announced on Thursday under the Azerbaijan-Pakistan Transit Trade Agreement, allow for the processing of transit cargo through Pakistan’s specified ports, including Karachi Port, Port Muhammad Bin Qasim, and Gwadar Port.

Azerbaijan’s vehicles, holding valid permits and used for transporting cargo, can enter Pakistan without submitting financial security for duties and taxes, based on mutual agreement between the two nations.

Customs will oversee the operation through its computerized system. Additionally, transport operators and customs agents handling these goods must maintain a “Revolving Insurance Guarantee PD Account” with Customs. The move is expected to streamline trade and enhance bilateral relations.