Pakistan And Uzbekistan To Explore Venues For Enhancing Bilateral Trade

The sixth meeting of the Uzbek-Pakistani Intergovernmental Commission on Trade-Economic and Scientific-Technical Cooperation (hereinafter – IGC) was held in Tashkent on July 14, 2021.
The IGC meeting was co-chaired from the Uzbekistan side by Mr. Sardor Umurzakov, Deputy Prime Minister – Minister of Investments and Foreign Trade, and from the Pakistani side by Mr. Abdul Razak Dawood, Adviser for Commerce and Investment to Prime Minister.
Parties recognized the importance of closer collaboration for post-COVID recovery to sustainably recover through technology, innovation, and economic partnership, aiming at increased economic diversification, sustainable growth, building supply chain resilience, and robust regulatory environments.
It was agreed to develop interbank cooperation to create favorable conditions for the further development of trade. It was agreed to finalize the bilateral Preferential Trade Agreement within 3 months, which will become a legal impetus for further increase in trade turnover between Uzbekistan and Pakistan.
Both countries agreed to organize Uzbek-Pakistani specialized exhibitions (Made in Uzbekistan/Made in Pakistan) in Tashkent and Islamabad to promote a wide range of export goods and to facilitate the attraction of leading companies in pharmaceuticals, textile, leather, production of construction materials, and agriculture industries, and transport and logistics services of both countries.
It also agreed that the trans-Afghan corridor, which connects Uzbekistan and Pakistan, will play an important role in enhancing bilateral trade between the two countries. Both sides agreed to expedite the implementation of the project.
The co-chairs expressed satisfaction in holding the inaugural Joint Business Council meeting on the sidelines of the Joint Ministerial Commission meeting.
The parties agreed to deepen partnership in the field of industrial cooperation, including organizing joint ventures in the field of the textile industry, assembly of agricultural machinery, processing and packaging of fruit and vegetable products.
It was agreed to deepen cooperation in the energy and mineral sector, agriculture, transportation and communication, labor, education, tourism, science and technology, technoparks, housing and communal services, intercity collaborations, standards, meteorology, culture, and youth affairs.
It was also agreed to form Joint Working Groups on Agriculture, IT, Education, and Mineral Sectors. Mr. Umarzakov thanked Pakistan for taking the relationship with Uzbekistan to a strategic partnership level.

Source: Pro Pakistani

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