Staff Report
ISLAMABAD: Pakistan and Uzbekistan on Monday signed several agreements to expand investment and enhance bilateral trade to about $1 billion.
According to a press release on Monday, Commerce Minister Naveed Qamar from Pakistan and Uzbek Deputy Prime Minister Khodjave Jamshid Abdukhakimovich, representing Uzbekistan, signed nine Memoranda of Understanding (MoUs) here in Islamabad.
While talking over the agreements, Commerce Minister Naveed Qamar told the media that both countries had decided to implement the Preferential Trade Agreement from February 1, 2023.
Pakistan, Uzbekistan Bilateral Trade
Meanwhile, officials from both countries also discussed the implementation of the Agreement between the two countries on Transit Trade (AUPTT), and Uzbekistan would advise the rules in this regard in February.
It was also agreed to commence a joint visit to the Afghan capital Kabul before February to discuss problems faced by Pakistani and Uzbek transporters over there.
Moreover, Uzbekistan has requested Pakistan for an off-dock terminal at Karachi and Gwadar ports, followed by an assurance of full facilitation to the farmer. Besides this, officials from both countries also decided to plan trade exhibitions along with a strategy to cooperate in e-commerce.
Along with other engagements, the Uzbek delegation is also scheduled to meet Prime Minister Shehbaz Sharif and discuss bilateral issues and business opportunities.
Sports, Environment, Climate change
It is worth noting that the President of Uzbekistan, Shavkat Mirziyoyev, visited Pakistan earlier this year. Several agreements were signed by the two sides, including tourism, sport, interfaith harmony, environment, and climate change.
Both Pakistan and Uzbekistan have been closely cooperating at the regional and international levels, particularly at the United Nations, OIC, and at Shanghai Cooperation Organization.
