Pakistan, Uzbekistan sign pact to enhance trade, improve connectivity

Pakistan and Uzbekistan have signed a memorandum of understanding for establishment of 'Joint Working Group on Trade and Economic Affairs'

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ISLAMABAD: Pakistan and Uzbekistan will work together for trade enhancement, promotion of intergovernmental projects in different sectors and improvement of connectivity.

This was agreed upon on Thursday when Pakistan and Uzbekistan signed a memorandum of understanding (MoU) for establishment of ‘Joint Working Group on Trade and Economic Affairs’.

Uzbekistan Deputy Prime Minister and Minister for Investments & Foreign Trade Sardor Umurzakov had called on Adviser to the Prime Minister on Commerce and Investment Abdul Razzak Dawood in Islamabad.

Both sides agreed to start negotiations for a bilateral Early Harvest Plan, proceeding to Preferential Trade Agreement (PTA) to provide increased market access to each other’s products.

It was also agreed to have Mutual Recognition Agreements (MRAs) for harmonization of standards and sanitary and phytosanitary measures. It was further agreed to arrange a business forum for the private sector of both countries.

During the discussions, Pakistan and Uzbekistan resolved to optimally utilize trade and investment opportunities and work expeditiously to achieve the shared goal of strengthening political and commercial ties.

DELEGATES MEET TOP LEADERSHIP

Seperately, the nine-member Uzbek delegation, comprising the first deputy foreign affairs and deputy ministers of investment & foreign trade, transport, and senior officials of ministry of investments & foreign trade, called on Prime Minister Imran Khan and Chief of Army Staff Gen Qamar Javed Bajwa.

The delegation also held meetings with the ministers for industries & production and maritime affairs to actualize existing investment opportunities in the fields of textile, agriculture, pharmaceuticals and tourism.

Both sides endeavoured to work towards improved connectivity through land borders and shipping. Uzbekistan is particularly interested in using sea ports of Pakistan for shipment of imports and exports.

Earlier, the delegation of Uzbekistan headed Sardor Umurzakov arrived in Pakistan. The visiting delegation was received by Abdul Razzak Dawood along with senior officials of commerce and foreign affairs divisions.

Talking to the media on the occasion, Razak Dawood said Pakistan desires to strengthen its relations with the Central Asian States in diverse fields. He expressed the confidence that the visit of the Uzbek deputy prime minister will help further promote trade between the two countries.

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