Pakistan and Uzbekistan Agree to Enhance Bilateral Trade

Pakistan and Uzbekistan have agreed to enhance bilateral trade between the two nations to the level of $1 billion at the earliest.

Federal Minister for Finance and Revenue Ishaq Dar called on the President of Uzbekistan Shavkat Mirziyeyov today in Tashkent. The Finance Minister is scheduled to co-chair the 8th Session of the Pakistan-Uzbekistan Joint Ministerial Commission (JMC) in Trade, Economy, and Scientific & Technical Cooperation, on 24 February 2023.

The meeting lasted for more than an hour, in which a wide range of trade, investment, and regional connectivity issues was discussed. The Uzbek President fondly recalled his meetings with Prime Minister Shahbaz Sharif in Samarkand and Astana in 2022 and reiterated deep-rooted ties between Pakistan and Uzbekistan. The Uzbek President appreciated Pakistan’s continued support for the trans-Afghan Railway project. Both sides discussed the various options for the funding railway project that is expected to benefit the whole region.

The Uzbek President also expressed satisfaction with the increased level of interaction with Pakistan and underlined the need to have even more interaction at all levels. He offered his full support to further deepen the economic cooperation between the two countries.

Finance Minister Ishaq Dar thanked the President for hosting the Pakistani delegation and hoped that the target set by the Joint Ministerial Commission for enhancing the bilateral trade to the level of $1 billion is achieved at the earliest as both sides have a keen interest. He also conveyed warm wishes to the Uzbek President and people of Uzbekistan from Prime Minister Shehbaz Sharif.

Dar also expressed his positive sentiments for the early development of a road and rail network between the two brotherly countries that will ultimately pave the way for regional connectivity.
Both sides expressed hope that the operationalization of the Preferential Trade Agreement and the Transit Trade Agreement (UPTTA) will help boost bilateral trade.

The Joint Ministerial Commission being Co-chaired by Senator Mohammad Ishaq Dar is scheduled to meet tomorrow in Tashkent to take up major areas of collaboration between the two countries.

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