Both the states started recorded trade in 1995, by inking an agreement under the Economic Cooperation Organisation. Exports in Pakistan averaged 51223.35 PKR Million from 1957 until 2020, reaching an all time high of 339290 PKR Million in October of 2020 and a record low of 51 PKR Million in April of 1958. Azerbaijan, a former Soviet republic on the Caspian Sea, is situated at the border of eastern Europe and western Asia and is the most populated nation of the Caucasus. The relation goes back to the time when both nations were part of the Persian Empire. The writer is Director, Institute of Peace and Diplomatic Studies. Baku seeking more defence imports from Pakistan . Pakistan can potentially replace other competitors in Azerbaijani markets. After the establishment of the formal diplomatic relations, there was no look back and the ties grow on steady pace. Pakistan has been developing its Gwadar port with Chinese assistance. Important imports partners of the country are Russia, Germany, Turkey, China and Italy. Figure 3: USA imports in Azerbaijan (USD Mn) The United States and Azerbaijan have a bilateral trade agreement and a bilateral investment treaty. Get your Azerbaijan Tour Package from Pakistan now from Travelco and indulge yourself in an unforgettable Holiday experience. Nevertheless, the Pakistani defence ministry was invited to demonstrate the JF-17 at the 2016 Azerbaijan International Defence Exhibition (ADEX-2016) for the first time. According to an estimate, there are 267 companies with Pakistani capital worth $4.2 million are operating in Azerbaijan while trade turnover between both states reaching $5.82 million in 2018, which is 36 percent more than last year figures. While Azerbaijan’s defence industry has strategic relations with various countries, Baku has been seeking ways of expanding military cooperation with Pakistan in particular over the last years. Baku, which enjoys Pakistan’s full diplomatic support with regards to the conflict, is also looking to Pakistan as a source of military hardware. However, few of the companies have started their supply of the goods but more can be done with cooperation from the government and the chamber of commerce and industry platforms. 1. Azerbaijan imports from India - data, historical chart and statistics - was last updated on June of 2020. Thirteen countries have so far expressed interest in purchasing the JF-17 aircraft, including Azerbaijan, Zimbabwe, Bangladesh, Myanmar, Egypt, Iran, Lebanon, Malaysia, Morocco, Nigeria, Sri Lanka, Algeria and Sudan. Pakistan also has a potential for manufacturing sports goods and Azerbaijan has a huge market due to the presence of the high number of games played in the country. The growing connectivity and B2B meetings better set the course of future bilateral trade. Published in Daily Times, October 18th 2018. Overview: This page contains the latest international trade data for Pakistan, including service trade data, and tariffs.In 2018 Pakistan was the number 39 economy in the world in terms of GDP (current US$), the number 69 in total exports, the number 49 in total imports, and the number 104 most complex economy according to the Economic Complexity Index (ECI). 10.Islamuddin Sajid, “Pakistan Armed Forces Throw Weight Behind Azerbaijan”, Anadolu Agency, October 10, 2020. 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MD. The meetings of the commission mentioned above are held every 2 years in the capital cities of both countries. Azerbaijan is one of the largest producers of oil and energy related products while Pakistan one of the largest consumer market for these products. Pakistan is one of the major oil and gas consuming countries in the world, wherein it can call on investments in energy sectors in Pakistan. Oil is a major commodity of Azerbaijan while Pakistan is facing an acute shortage of energy resources, thus Pakistan constitutes an interacting market in oil and gas sector investment for Azerbaijan. Turkish President Recep Tayyip Erdogan was in Azerbaijan Thursday to join nationwide celebrations marking his close ally’s decisive military victory against Armenia in their conflict for control of disputed territory. The two countries signed a defence agreement in May of 2003, which allows Azerbaijani military staff, in particular special force units, to take part in annual military drills along with Pakistani armed forces. According to officials aware of the development, Azerbaijan has expressed the desire … Both states signed an agreement of cooperation wherein Azerbaijan will support Pakistan’s energy needs. Pakistan was among the first states to recognise Azerbaijan’s independence following the 1991 Soviet Union’s collapse. Azerbaijan is eyeing the JF-17 Thunder (also known as the FC-1 Xiaolong), a multi-functional aircraft that was jointly developed by Pakistan and China. Pakistan is one of the major oil and gas consuming countries in the world, wherein it can call on investments in energy sectors in Pakistan. BAKU, Azerbaijan, Dec. 12. Travelco also provides one tour person starting from PKR. Azerbaijan (FlagPictures) Strategically positioned at the confluence of southwestern Asia with southeastern Europe north of Iran and south of Russia, the Republic of Azerbaijan shipped US$19.6 billion worth of goods around the globe in 2019. In addition to this, Pakistan and Azerbaijan are planning to hold bilateral military exercises, according to comments from Prime Minister Nawaz Sharif during his official visit to Azerbaijan in October 2016. If we closely look at the Azerbaijani market, there is huge potential for Pakistani businessmen including joint ventures in various sectors including sports goods, leather industry, pharmaceutical, energy, production of lightweight agriculture equipment and value addition in agriculture products. As The Diplomat has noted previously, “the lightweight, single-engine, multi-role combat jet, jointly developed by Pakistan Aeronautical Complex and China’s Chengdu Aircraft Corporation, sells at an attractive price point, with a unit cost of just around $15-25 million”. While seeking investments in energy sector by Azerbaijan, Pakistan can potentially invest in the above mentioned commercial sectors in Azerbaijan. Europe. Azerbaijan Product exports and imports from Pakistan 2018 Value of products imported and exported by Azerbaijan from Pakistan along with their product share, Most Favored Nation (MFN) and Effectively applied tariffs (AHS) for the year 2018. Pakistan often exports potato, rice, onion, tomato and garments to Azerbaijan, however, surgical goods and sports goods are something which can be further explored as well. Another important sector for collaboration and joint venture is energy sector. Joint Ministerial Commission is the only bilateral framework for trade which unfortunately could not exploit the full economic potential by either side. Both sides can potentially increase the volume of bilateral trade by sharing business expertise and connecting markets. India has a well-established pharmaceutical industry in Azerbaijan and many Indian pharmaceutical companies operate out of Azerbaijan. Currently, the Azerbaijan Air Forces operate mainly MiG-29, Su-25 and MiG-21 aircraft. Top Azerbaijan Imports 2018. In 2018, Azerbaijan bought US$9.4 billion worth of imported products up by 2.9% since 2014 and up by 7.7% from 2017 to 2018. These findings are based on India Export database of infodriveindia and is based on shipping bills and bills of entry filed at Indian customs. The bilateral strategic cooperation between these two countries embraces the economic, cultural, political, and especially defence fields. We use cookies to ensure that we give you the best experience on our website. Latest News These two major crops along with cotton and several other important agricultural products, give strength to our economy. As Azerbaijan seeks interest in agricultural and textile apparels widely produced in Pakistan, this can be a huge potential. There are also ongoing dialogues between Pakistan and Azerbaijan related to the import of LNG from Azerbaijan. 11.See “India Bags US$ 40 Million Defence Deal … A dividend withholding tax of 15% is applicable to monies sent abroad. On May 2017, the Azerbaijan government began issuing a special electronic visa for citizens of over 90 nationalities, Pakistan is one of the countries included. Pakistan is an Average economy industry, there are many established industries of many types in Pakistan. There are also ongoing dialogues between Pakistan and Azerbaijan related to the import of LNG from Azerbaijan. Investor Information The following figures show the overall trade situation of the country. Thus, Azerbaijan can help Pakistan to find new areas of revenue generation to feed its economy where Pakistan can play its role. Azerbaijan, which has been locked into a long-term bloody conflict with Armenia for more than a decade, considers the further development of its defence industry as the main priority. The main reason driving Pakistan-Azerbaijan politico-military cooperation is the fact that Baku is still dealing with an unresolved territorial conflict in the Nagorno-Karabakh region. Keeping in view the economic potential of both states, the current trade volume is not promising and both partners sought help from business community to further strengthen Business Corporation. Pakistan recognized the independence of Azerbaijan in 1991, (the second country after Turkey) and the two countries established diplomatic relations in 1992. Azerbaijan and Pakistan are two brotherly Muslim countries with unique commonalities of historical, religious and political nature. Ever since the first visit of the then prime minister of Pakistan Nawaz Sharif who visited Azerbaijan’s capital, Baku in 1995, and a reciprocal visit of Azerbaijan’s late President Heydar Aliyev in April 1996 to Pakistan, both countries have covered lots of ground in political and economic spheres. As stated earlier, oil and gas makes huge chunk of economy of Azerbaijan which are cheap commodities worldwide and its prices are likely to stay stable. Pakistan had long been trying to find countries to buy the JF-17 in order to reduce per unit cost the Pakistan Air Force pays. It is important to note here that Pakistan is an agriculture based economy and the most of its exports are products or services related to this sector. Successive government tried their best from Pakistani side along with the Azerbaijani side however the momentum began to rise after the advent of the 21st century and rise of Azerbaijan as an oil and economic regional giant. In autumn 1995, the two countries signed an agreement on cooperation in the field of trade and economy and a protocol on the establishment of a joint commission at the state level. Destinations: Azerbaijan exports mostly to Italy ($5.99B), Turkey ($1.85B), Israel ($1.31B), Czechia ($954M), and Germany ($820M), and imports mostly from Russia ($1.88B), Turkey ($1.55B), United Kingdom ($1.3B), China ($674M), and Germany ($603M). Pakistan was one of the first countries to open its Embassy in Baku, capital of Azerbaijan. From 2006 to 2016, EU28 imports from Pakistan have almost doubled from €3,319 to €6,273 million. In order to boost trade relations a special working group has been established between the Ministry of Economy of Azerbaijan and the Ministry of Trade of Pakistan on the development of bilateral investment cooperation. The process is uncomplicated and it will only take you a few minutes. Football, Soccer balls and other sports items Chabahar is expected to help India gain access to markets in central and west Asia. Exports in Pakistan increased to 339290 PKR Million in October from 313324 PKR Million in September of 2020. Pakistan supports Azerbaijan's fair position in the Armenian-Azerbaijani conflict, said Pakistani Ambassador Bilal Haye, Trend reports citing the … It can also successfully maintain the supplies of goods and services that might be required. Taking into account their close ties, the current level of military cooperation between Azerbaijan and Pakistan needs to be emphasised. tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app. Want to IMPORT FROM PAKISTAN? Today we list 10 thing to import from Pakistan, which we have selected from various products of Pakistan. Given Pakistan’s population of 216.6 million people, its total $37.3 billion in 2019 imports translates to an estimated $175 in yearly product demand from every person in the South Asian country. National. In the case of Pakistan’s own territorial dispute with India, Baku “fully supports the settlement of the Kashmir problem based on the relevant resolutions of the UN Security Council,” as President Ilham Aliyev said during a joint press conference with Prime Minister Nawaz Sharif in Baku. Both countries built deeper and closer brotherly bond which is strengthening and growing ever since till this time.  Leadership and people of both countries feel closer to each other. The Azerbaijan e-Visa is accessible for the citizens of 93 countries, and Pakistan is one of them. The following diagram shows the levels of exports and imports of the country. It is very important to note here that the trade turnover during the January to June 2018 has remained at the 5.82 million USD. During the exhibition, Defence Industry Minister Yavar Jamalov repeatedly showed interest in importing new fighter jets. The JF-17 aircraft had been produced as an affordable and modern replacement to French-made Mirage III and F-7 interceptors. 135,000 accommodation, airport pick and drop, city tour and much much more. Agriculture watchdog Rosselkhoznadzor on Tuesday announced the embargo beginning December 10 to protect against harmful substances detected in several recent … Azerbaijan is eyeing the JF-17 Thunder (also known as the FC-1 Xiaolong), a multi-functional aircraft that was jointly developed by Pakistan and China. AFP Moscow Russia has announced a ban on imports of tomatoes from Azerbaijan beginning on Thursday, in a damaging move for a key export that analysts tied to fallout from the Nagorno-Karabakh conflict. Azerbaijan imports military construction equipment from Turkey [PHOTO] 27 July 2020 14:21 (UTC+04:00) 1 250 . Product Imports by Pakistan from Azerbaijan 2018 Value of products imported by Pakistan from Azerbaijan along with their import product share, Most Favored Nation (MFN) and Effectively applied (AHS) tariffs for the year 2018. As we all know, that Azerbaijan is one of the largest producers of oil and energy related products while Pakistan one of the largest consumer market for these products. Though Azerbaijan imports of services fluctuated substantially in recent years, it tended to increase through 2010 - 2020 period ending at 1,552.45 U.S. dollars in 1st quarter 2020. Pakistan's imports from the EU are mainly comprised of machinery and transport equipment (40.2% in 2016) as well as chemicals (19.5% in 2016). Editor’s Picks, Contact Today, Pakistan is the only country that has not established diplomatic relations with Baku’s main foe, Armenia. In case of Pakistan and Azerbaijan, both states, though shared common historical past and religious affinity with each other but the bilateral trade is merely US$ 7.3 million per year wherein both states have signed agreement of cooperation to increase the figure to US$ 500 million over the next five years. Although, Azerbaijan has expressed interest in importing the JF-17, no formal deal has been reached yet. As a part of the agreement, Azerbaijani naval personnel participated in the biggest Pakistani-led multinational exercise, AMAN-2013, held in March 2013 in the Arabian Sea. Pakistan can also export other items including potatoes, onions, rice, lentils, cotton, pharmaceuticals, surgical and related products, textiles and others. Top trading partners (import sources) of Azerbaijan in 2019: Russia with a share of 16.7% (2.28 billion US$) Turkey with a share of 12% (1.64 billion US$) China with a share of 10.4% (1.43 billion US$) Switzerland with a share of 8.84% (1.2 billion US$) USA with a share of 5.63% (768 million US$)