Pakistan and Uzbekistan have jointly agreed to implement the Preferential Trade Agreement (PTA) between the two countries from February 1, 2023. The agreement was reached in a signing ceremony of a Memorandum of Understanding (MoU) between the two countries. Pakistan was represented by the Federal Minister for Commerce, Syed Naveed Qamar while Uzbekistan was represented by the Deputy Prime Minister/Minister of Investment and Foreign Trade, Khodjaev Jamshid Abdukhakimovich.

Naveed Qamar hoped that PTA and other such agreements between the two countries will increase the bilateral trade to USD 1 billion, adding that Transit Trade Agreements will also be implemented between the two countries from January 1, 2023. He said that a joint strategy was needed to resolve trilateral transit problems and boost the trade between Pakistan, Uzbekistan and Afghanistan.

Qamar continued, “Uzbekistan has asked for warehouse facilities in Karachi and Gwadar. Pakistan will support Uzbekistan’s case for WTO membership.” He said, “for regional trade integration, mutual agreements with all Central Asian countries, including Uzbekistan, Tajikistan, Kazakhstan and Azerbaijan will be signed through an integrated approach.”

It is pertinent to mention here that Uzbek Deputy Prime Minister is leading a delegation of Uzbek Ministers and influential businessmen to meet their Pakistani counterparts.  The delegation will also meet the Prime Minister of Pakistan, Shahbaz Sharif, and the two sides are expected to exchange views on further strengthening the bilateral relations.

Credit : Independent News Pakistan-WealthPk