ISLAMABAD: Adviser to Prime Minister on Commerce Abdul Razak Dawood on Thursday disclosed that a Memorandum of Understanding between Pakistan and Uzbekistan to establish a ‘Joint Working Group’ for trade and investment is on the cards.
The agreement would be ready for signature after seeking approval from the federal cabinet, the adviser said.
He also assured the Uzbek side of Pakistan’s support to join Quadrilateral Traffic in Transit Ageement (QTTA), said a news release issued by Ministry of Commerce here.
Dawood had a conference call with Deputy Prime Minister Uzbekistan Sardor Umurzakov. Both the sides agreed to cooperate in joint ventures.
Uzbek Ambassador to Pakistan Furqat Sidikov also joined the meeting at the Ministry of Commerce, Islamabad.
During the meeting, both leaders expressed their desire to enhance trade relations between the two countries, establishing joint ventures in the fields of agriculture, textile, pharma, tourism and construction.
Pakistan and Uzbekistan also agreed on greater utilisation of the 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 utilisation of Karachi and Gawadar ports for its trade operations, and establishment of the joint working group for trade and investment cooperation.
Deputy PM Uzbekistan also requested Pakistan to support its cause in accession to QTTA, and share experience on achieving GSP Plus status.
During the meeting, both sides expressed the desire to enhance trade relations between the two countries.
It was agreed that institutional mechanism between both the countries needed to be upgraded.