Uzbek envoy agrees on removing trade barriers
A key proposal is to slap 2% additional customs duty on goods imported at zero duty, including those falling within the free trade agreements. photo: file
Uzbekistan Ambassador Aybek Arif Usmanov has expressed keen interest in investing in e-commerce, trade and industry in Pakistan.
During a meeting with Federal Minister for Commerce Syed Naveed Qamar on Tuesday, Usmanov underscored the need for taking more practical steps to execute the action plan envisaging $1 billion in annual trade between Uzbekistan and Pakistan.
He said that bilateral trade relations had shown a positive trend as data for financial year 2021-22 reflected an increase in trade to nearly $91 million, with exports amounting to $57 million.
Pakistan’s exports to Uzbekistan doubled from $36.56 million in July-March FY22 to $73.12 million in the same period of financial year 2022-23.
The envoy agreed with the minister on removing the unwanted barriers to pave the way for pushing bilateral trade to $5 billion.
He acknowledged and appreciated the minister’s recent efforts for reconciliation among political parties and bringing them on the negotiating table.
Speaking on the occasion, the federal commerce minister, while praising the Uzbek ambassador’s efforts to deepen ties, acknowledged the enormous potential for trade between the two countries. “There is a need to identify new sectors for cooperation,” he said.
Qamar declared his full support for the ambassador in drive to explore new avenues of mutual investment and tap the actual trade potential.
Both sides agreed to continue working closely together to identify opportunities for cooperation in trade, investment and other areas. They expressed their resolve to strengthen relations between the two countries.
Published in The Express Tribune, April 19th, 2023.
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