Uzbekistan and Pakistan agree to expand trade-economic relations

Ulugbek Rozukulov, Deputy of the Prime Minister of Republic of Uzbekistan, held a meeting with the Minister for Commerce of Pakistan Khurram Dastgir Khan on 22 December 2016.

Pakistani Minister said that the visit will be helpful in promoting trade and economic relations between the two countries.

Khurram Dastgir Khan informed the delegation that there exist tremendous trade potential between the two countries and that the bilateral trade between Pakistan and Uzbekistan is not reflective of the true potential.

He said that there are some barriers, which hamper to expansion of trade-economic relations. He noted that Uzbekistan and Pakistan should work together to remove the barriers and facilitate the trade.

Pakistani minister extended invitation to both public and private sectors of Uzbekistan to organize single country exhibition in Karachi or Lahore which are commercial hubs of Pakistan.

He noted that Pakistan and Uzbekistan may explore opportunities for joint ventures in textile. “There is also need to revive the forum of Joint Commission and the next session may be held at the earliest”, added the minister.

Khurram Dastgir Khan stated that the delegation that Memorandum of Understanding between Trade Development Authority of Pakistan (TDAP) and the Uzbek Ministry of Economic Affair and Investment has already been signed which aims at promoting and developing trade links between the two countries.

Rozukulov Ulugbek appreciated the efforts made and steps taken by the ministry of commerce and government of Pakistan for promotion of bilateral trade between the two countries and assured full support from Uzbekistan side.

Rozukulov Ulugbek informed the minister that Special Economic Zones have been created in Uzbekistan with zero tariffs and Pakistani investors can get benefitted from it.