ISLAMABAD: Pakistan and Uzbekistan have agreed to extend their Preferential Trade Agreement (PTA), marking a major step forward in strengthening bilateral trade, investment and economic cooperation, with both sides setting an ambitious target of boosting two-way trade to USD2 billion within the next two years.
The agreement to expand the PTA was reached following high-level engagements facilitated by the Special Investment Facilitation Council (SIFC), reflecting Pakistan’s growing momentum in international economic diplomacy. Leaders of both countries reaffirmed their commitment to deepening economic ties, enhancing market access and creating a more enabling environment for trade and investment.
During the discussions, both sides emphasized the need to facilitate Pakistan–Uzbekistan trade through customs harmonization, improved digital connectivity and real-time data exchange, aimed at reducing transaction costs and improving cross-border trade efficiency. The enhanced framework is expected to significantly ease the movement of goods and services between the two countries.
Uzbekistan identified textiles, leather, pharmaceuticals and surgical instruments as priority sectors for joint ventures, technology transfer and industrial cooperation, highlighting strong potential for value-added manufacturing and export-oriented collaboration. These sectors are expected to play a key role in expanding bilateral trade volumes and attracting new investments.
Officials noted that the extension of the Preferential Trade Agreement would not only increase Pakistan’s trade volume but also strengthen investor confidence by signalling long-term policy continuity and regional economic integration. The initiative is expected to generate employment opportunities, stimulate industrial growth and contribute to Pakistan’s broader economic recovery and expansion.
The SIFC was credited for playing a central role in advancing Pakistan’s international trade and investment agenda, with officials stating that the council remains actively engaged in unlocking new opportunities for global investors and positioning Pakistan as a competitive destination for regional and international commerce.
Copyright Business Recorder, 2025
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