The Federal Board of Revenue (FBR) has given permission for Azerbaijani cargo vehicles to enter Pakistan under the Azerbaijan-Pakistan Transit Trade Agreement 2024.

The FBR issued a statutory regulatory order (SRO) under the new agreement and the 2024 transit trade rules covering cargo arriving via Karachi Port, Muhammad Bin Qasim Port and Gwadar Port.

According to the order, customs clearance for transit trade goods will be carried out through designated ports using the computerized customs system.

Based on mutual cooperation, Azerbaijani-registered vehicles will be allowed to enter Pakistan without the need for financial guarantees for customs and taxes.

In addition, all transport operators and customs clearance agents will be required to open and maintain a “revolving insurance guarantee PD account” with the customs authorities.

Under the new rules, the Directorate General of Reforms and Automation in Karachi will create user IDs for traders, government organizations, the United Nations or diplomatic missions.

The required registration form is submitted electronically in the customs computer system by the relevant ministry of Azerbaijan.

Also, every vehicle entering or exiting Pakistan must have a valid permit issued by the authorized authority as per the prescribed format.

The Directorate of Transit Trade in Peshawar, Quetta and Gwadar will be responsible for issuing permits at the respective land border customs posts.

This new arrangement aims to streamline trade and promote cooperation between Azerbaijan and Pakistan, increasing the movement of goods between the two countries.