Pakistan-Uzbekistan trade rises threefold

Envoy reveals direct Karachi-Tashkent flights will start soon

FAISALABAD: Direct hurdles obstructing Pakistan-Uzbekistan trade have been removed while steps are under way to promote banking and air services besides ensuring safe transit of trade consignments through Afghanistan, said Uzbekistan Ambassador Furqat Siddiqov.

Addressing business community at the Faisalabad Chamber of Commerce and Industry (FCCI), the envoy disclosed that trade between the two nations registered a three-fold growth compared to the previous year. Highlighting that Uzbekistan Air was already flying on the Lahore-Tashkent route on a weekly basis, he said introduction of direct Karachi-Tashkent flights was on the cards.

Underscoring the need for establishing banking channels, he pointed out that National Bank of Pakistan was present in Tashkent while a Swiss bank was expected to establish its branch shortly to promote international banking links.

In response to a question, Siddiqov replied that the Uzbek government was contemplating to initiate Islamic banking and policies were being framed in that regard.

“Uzbekistan imports sugar, pharmaceuticals and potatoes from Pakistan. In return, it can export agricultural machinery,” he suggested.

The Uzbek ambassador was of the view that cooperation in textile products should be encouraged since both the countries were engaged in cotton production.

Reiterating the fact that several Pakistani enterprises were already present in Uzbekistan, he highlighted the availability of joint-venture opportunities in that area. He offered credit facility  to Pakistani investors.

“Uzbekistan, Tajikistan, Russia, Afghanistan and Pakistan are considering a proposal to open a land route through Afghanistan,” he revealed. “This would be done by offering logistics, trade and transit facilities to the exporters of this region.” 

Published in The Express Tribune, January 30^th, 2019.

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