Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood Wednesday said that after the finalization of Pakistan and Uzbekistan Preferential Trade Agreement (PTA), there was a huge potential for trade growth in various sectors.
The adviser made these remarks while addressing the ‘Pakistan-Uzbekistan Business Forum’ along with the Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov organized by the Ministry of Commerce.
The signing of the Preferential Trade Agreement would take place during the upcoming visit of the Uzbek President to Pakistan. The agreement would facilitate bilateral trade and transit trade to boost trade ties between the two countries and also enhance the connectivity with Afghanistan, the adviser said.
Speaking on the occasion, Sardor Umurzakov said that Pakistan and Uzbekistan bilateral trade increased by 70 percent in the last two months. He urged for industrial and investment cooperation between the two countries and said that business communities from both needed to jointly work for increasing bilateral trade.
He further said that the government of Uzbekistan would take steps to make legal and financial and visa issues as easy as possible for the business community.
Other memoranda of understanding (MoUs) were also signed between the private sector of the two countries to enhance cooperation in different fields during the event.
