The Federal Board of Revenue (FBR) has introduced tariff concessions on importing various items under the Pakistan-Azerbaijan Preferential Trade Agreement, effective December 16, 2024.
According to S.R.O. 2053(I)/2024 issued by the FBR, the tariff concessions cover items such as shelled hazelnuts or filberts, apricots, vegetable saps and extracts, non-stemmed tobacco, polyethylene, propylene copolymers, casing, tubing and drill pipes used in oil and gas drilling, and refined copper wire with a maximum cross-sectional dimension exceeding 6 mm.
The imports will be subject to the Pakistan-Azerbaijan Preferential Trade Agreement Rules of Origin, 2024, as outlined in the Import Policy Order of Pakistan. The goods must adhere to the stipulated terms of the trade agreement signed between the two nations.
In a statement, the FBR clarified that the Federal Government, under sections 18C and 19 of the Customs Act, 1969, has exempted the imports from Azerbaijan from customs duty (CD), additional customs duty (ACD), and regulatory duty (RD) to the extent specified in the First Schedule of the Customs Act or as notified by the FBR on July 1, 2022.
However, the FBR added that if the specified rates of CD, ACD, or RD under the trade agreement are higher than those listed in the First Schedule or the previously notified rates, the lower rate will apply.Â
The FBR emphasized that these concessions aim to promote bilateral trade and align with the preferential agreement’s objectives.
