ISLAMABAD
Pakistan and Uzbekistan have finalized different agreements to further enhance investment and increase the bilateral trade volume to one billion dollar.
The Preferential and Transit Trade agreements to be implemented from next month were signed by Commerce Minister Syed Naveed Qamar and Deputy Prime Minister of the Republic of Uzbekistan Khodjave Jamshid Abdukhakimovich in Islamabad on Monday.
Speaking on the occasion, the Commerce Minister said the two sides have agreed to devise a joint strategy for transit trade via Afghanistan. He said in this regard, we have also proposed a joint trilateral forum of Pakistan, Uzbekistan and Afghanistan to facilitate trade and sort out any problems in this connection. Syed Naveed Qamar said Pakistan and Uzbekistan have agreed to organize single country exhibitions to market, promote and facilitate their manufacturers of export products.
According to a press statement, purpose of the meeting was to follow up on the initiatives undertaken between the two countries and prepare an action plan to enhance the trade turnover to USD 1 Billion.
The two sides agreed on the following points and a Joint Action Plan proposed by Uzbekistan. Implementation of Pak-Uzbekistan Preferential Trade Agreement w.e.f 1st February 2023, as Uzbekistan side will complete internal formalities in Jan 2023 and Pakistan side has already completed the same.
Both sides agreed to start awareness sessions for business communities of both countries. Implementation of Agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT)- Notification of rules awaited from Uzbekistan side in February 2023.
To overcome the Problems being faced by the Pakistani/ Uzbek Transporters, both sides agreed to take up all the issues with Afghanistan, in a joint visit to Kabul tentatively to be undertaken in last week of January 2023, after finalizing a joint agenda to be presented to Afghan side.
Both sides agreed to formulate Joint Strategy for transit trade through Afghanistan. Regional understanding on Transit and Trade Framework to be prepared including Joint fund/mechanism for upkeep of road infrastructure in Afghanistan.
Uzbek side informed of Uzbekistan becoming WT member in 2023 and Pakistan side offered full support. Uzbek side requested for an Off Dock Terminal for Uzbek Cargo at Karachi and Gwadar, Pakistan side offered full facilitation.
Both sides agreed to organize Trade Exhibitions in each other’s country/ and prepare strategy for e-Commerce cooperation. Both sides agreed to Finalize MRA for SPS Measures on priority basis. Uzbekistan side informed Pakistan side about Termiz Economic Zone and incentives offered, and Pakistan side agreed to disseminate information to business community.
