Pakistan, Uzbekistan agree to boost trade volume to $300m

Deputy PM Elyor Ganiev arrives on a two day visit; meets PM, COAS and federal ministers

ISLAMABAD: Pakistan and Uzbekistan on Monday agreed to strengthen bilateral trade, setting the target of touching $300 million as trade volume.

The agreement was reached during the delegation-level talks as Foreign Minister Shah Mehmood Qureshi and Uzbekistan’s Deputy Prime Minister Elyor Ganiev led their respective sides here at the Ministry of Foreign Affairs in Islamabad. The Uzbek deputy prime minister arrived here on a two-day official visit.

The two sides discussed implementation of the decisions taken by their leaderships in previous high-level meetings.

FM Qureshi said the visit of Uzbek deputy PM to Pakistan would strengthen economic strategic partnership and enhance regional cooperation. He said Pakistan wanted to strengthen relations with Central Asian states.

Uzbekistan’s ministers for transport, investment and foreign trade also attended the meeting.

Earlier, PM Imran received Uzbek Deputy PM Ganiev on his arrival at the PM Office in Islamabad.
The two sides underscored the need for greater communication network to realise trade potential between Pakistan and Uzbekistan.

They also discussed bilateral relations as well as the regional situation.

During the meeting, Ganiev conveyed warm greetings of the Uzbek president and gave a detailed briefing on the transport railway corridor from Uzbekistan to Peshawar via Kabul and Mazar-e-Sharif.

Appreciating the briefing, the PM agreed that the railway link will not only benefit the region but also enhance connectivity of the region with China, Central Asia and Europe.

PM Imran highlighted the historic and cultural bonds between the two nations, and underscored the importance of bolstering bilateral ties.

Separately, the Uzbek’s deputy PM met army chief General Qamar Bajwa at the General Headquarters.

According to the Inter-Services Public Relations (ISPR), the army chief discussed regional security situation along with ways to improve bilateral ties.

“Uzbekistan is a brotherly country and cooperation between both will not only help in improving peace and stability in the region, but also usher in economic prosperity as well,” Gen Qamar was quoted as saying.



The visiting dignitary appreciated the role of Pakistan army in battling terrorism and maintaining peace and stability in the region, the ISPR added.

Uzbek Deputy PM Ganiev also had a delegation level meeting with Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar in the federal capital.

The minister underlined that establishing transport and energy corridors would not only enhance regional connectivity but also boost trade and investment.

He stated that Uzbek companies can develop production lines in special economic zones under China-Pakistan Economic Corridor (CPEC) framework for mutual benefit of both countries.

Uzbekistan Ambassador Furqat Sidikov, Planning Secretary Zafar Hasan, members of planning commission and senior official of the ministry were also present in the meeting.

Bakhtiar highlighted that by 2050 electricity demand in Pakistan would reach 50,000MW, adding that Pakistan was committed to CASA-1000 energy project being financed by World Bank.

He apprised that Pakistan was planning to upgrade its railway system from Peshawar to Karachi to further boost economic activities.

The visiting dignitary informed that Uzbekistan had constructed a railway line from Tashkent to Mazar-e-Sharif, which can be extended to Peshawar thereby enhancing regional connectivity and trade.            The minister stressed the need for strengthening regional connectivity through various road and railway infrastructure projects to the benefit of all member countries.

Bakhtiar noted that bilateral trade between the two countries had increased significantly in the last two years, which could be enhanced to $1 billion by exploiting potential in various areas.

He appreciated that visiting business delegation would have an opportunity to meet Pakistani business community to explore more possibilities for future cooperation that will set in motion the launching of joint ventures in different fields.

The minister also called for regular exchange of business delegation between the two countries to further cement bilateral economic partnership.

The Uzbek deputy prime minister is scheduled to meet federal ministers and advisers including of railways, national food security and research, health, commerce and Board of Investment.

 

[WITH ADDITIONAL INPUT FROM APP]