Background
ISLAMABAD: The Federal Board of Revenue (FBR) has announced a new policy allowing Azerbaijan-registered vehicles to enter Pakistan for transit and bilateral trade with an aim to increase the country’s trade relationship with the nation.
Highlights
Transit Trade Rules of Azerbaijan-Pakistan 2024
The FBR issued SRO.2016(I)/2024, introducing Azerbaijan-Pakistan Transit Trade Rules 2024. This rule is framed under the Azerbaijan-Pakistan Transit Trade Agreement 2024 for the facilitation of cargo processing of transit trade cargo through Karachi Port, Port Muhammad Bin Qasim, and Gwadar Port. They allow easy movement of Azerbaijan’s imports and exports through Pakistan’s major trade hubs.
It has also been allowed for entry without financial security.
Azerbaijan vehicles, with a valid permit both for transit and bilateral trade, will be exempt from submitting financial securities for paying duties and taxes. That is in conformity with mutual agreement between the two parties.
Compulsory Revolving Insurance Guarantee Account
Transport operators and Customs clearing agents handling transit goods need to have “Revolving Insurance Guarantee PD Account” with Customs to enable compliance under the new guidelines.
Customs Registration Process
The Directorate General of Reforms and Automation, Karachi will issue user IDs to Azerbaijan’s focal ministry for registration of users such as traders, government organizations, United Nations agencies, and diplomatic missions in the Customs Computerized System (CCS).
Entities will submit their electronic registration forms through Azerbaijan’s relevant ministry.
Licensing and Permits
Valid permits are required from authorized bodies of Azerbaijan or Pakistan to make international transport.
Permits will be administered by the Directorate of Transit Trade offices in Peshawar, Quetta, and Gwadar for their respective land border customs stations.
GPS Tracking Requirement
For vehicles with no built-in trackers available that can be integrated into Pakistan’s systems, a GPS device approved by an authority will be fitted onto the vehicle to monitor its transit cargo.
Registration Points for Vehicles
All the Azeri vehicles shall register at designated points throughout their movement in Pakistan carrying transit cargo.
These measures are aimed at streamlining bilateral trade processes and are expected to strengthen economic ties between Pakistan and Azerbaijan.
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