Pakistan, Uzbekistan to finalise PTA in 3 months
Pakistan and Uzbekistan on Wednesday agreed to boost bilateral trade and economic ties to enhance economic integration and connectivity between Pakistan and Central Asian states.
The two sides agreed to organise specialised exhibitions (made in Uzbekistan/made in Pakistan) in Tashkent and Islamabad to promote a wide range of export goods and facilitate leading companies in pharmaceutical, textile, leather, construction material and agriculture sectors as well as transport and logistics services of both countries.
They would finalise the bilateral Preferential Trade Agreement (PTA) within three months, which would give a fresh impetus to trade between Uzbekistan and Pakistan.
The sixth meeting of Pakistan-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation was held in Tashkent under the chairmanship of Adviser to Prime Minister on Commerce Abdul Razak Dawood.
The two sides agreed on the importance of further increasing bilateral trade and investment, in full partnership between the public and private sectors, and involving relevant chambers of commerce as well as export development and investment promotion agencies of the two countries.
Both the countries exchanged information on the results of socio-economic development in recent years in Uzbekistan and Pakistan. In addition, future prospects for the development of bilateral trade and economic, investment and scientific cooperation were also highlighted.
They decided to hold regular meetings of the Intergovernmental Commission every year and hold the next meeting in Islamabad.
Furthermore, they agreed to deepen industrial cooperation by forging joint ventures in the textile industry, assembly of agricultural machinery, processing and packaging of fruit and vegetable products. [WITH ADDITIONAL INPUT FROM APP]
Published in The Express Tribune, July 15th, 2021.
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