ISLAMABAD: The government of Uzbekistan has agreed to maintain a 25 percent growth in bilateral trade between Pakistan and Uzbekistan.
A press release issued by the Ministry of Commerce said during a video conference held between the Advisor to the Prime Minister on Commerce, Textile and Investment Abdul Razak Dawood and Deputy Prime Minister of Uzbekistan, Sardor Umurzakov, both sides were agreed to maintain a 25 percent growth in bilateral trade.
The statement further said Uzbek Ambassador to Pakistan, Furqat Sidikov, also joined the meeting in the Ministry of Commerce. During the meeting, the officials were agreed on a Memorandum of Understanding (MoU) for establishing the ‘Joint Working Group Trade and Investment’.
Abdul Razak Dawood said the agreement would be ready for signature after seeking approval from the cabinet of Pakistan. During the meeting, both sides expressed the wish to improve trade relations between the two countries.
Both the countries have resolved that all-out efforts would be made to increase Bilateral Trade relations, establishing Joint Ventures in the fields of agriculture, mangoes, potatoes and fruits and vegetable, textile, pharma, tourism and construction, the statement read.
Razak Dawood assured the Uzbek side of Pakistan’s support to join Quadrilateral Traffic in Transit Agreement (QTTA).
He said Pakistan and Uzbekistan also agreed on better utilization of institutions like the Inter-Governmental Commission and Joint Business Council for providing impetus to Government to Government and Business to Business support.
Uzbekistan’s side expressed a desire for utilization of Karachi and Gawadar Ports for its trade operations and establishment of combined Working Group for trade and investment collaboration.
The Deputy Prime Minister of Uzbekistan also appealed Pakistan to help its cause in accession to Quadrilateral Traffic in Transit Agreement (QTTA), and share experience on getting GSP Plus status, said the ministry of commerce in the statement.
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