Govt of Uzbekistan agrees to maintain 25pc growth in bilateral trade with Pakistan

• Both the countries have resolved that all out efforts would be made to enhance Bilateral Trade relations, establishing Joint Ventures in the fields of agriculture etc.
• Razak Dawood assured the Uzbek side of Pakistan’s support to join Quadrilateral Traffic in Transit Agreement (QTTA).
• Uzbekistan side expressed desire for utilization of Karachi and Gawadar Ports for its trade operations, and establishment of Joint Working Group for trade and investment cooperation.

ISLAMABAD: The government of Uzbekistan has agreed and shown keen interest in maintaining 25 percent growth in bilateral trade between Pakistan and Uzbekistan.

Both sides were agreed on a Memorandum of Understanding (MoU) for establishing the ‘Joint Working Group Trade and Investment’, in 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, said  a press release issued by Ministry of Commerce here on Saturday.

Uzbek Ambassador to Pakistan, Furqat Sidikov, also joined the meeting in Ministry of Commerce. The agreement would be ready for signature after seeking approval from the cabinet of Pakistan, the adviser said.

During the meeting, both the sides expressed the desire to enhance trade relations between the two countries.

Both the countries have resolved that all out efforts would be made to enhance Bilateral Trade relations, establishing Joint Ventures in the fields of agriculture, mangoes, potatoes and fruits and vegetable, textile, pharma, tourism and construction.

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 greater utilization of institutions like Inter-Governmental Commission and Joint Business Council for giving impetus to Government to Government and Business to Business cooperation.

Uzbekistan side expressed desire for utilization of Karachi and Gawadar Ports for its trade operations, and establishment of Joint Working Group for trade and investment cooperation.

The Deputy Prime Minister of Uzbekistan also requested Pakistan to support its cause in accession to Quadrilateral Traffic in Transit Agreement (QTTA), and share experience on achieving GSP Plus status.