Pakistan, Uzbekistan set $2b trade target at IGC

Pakistan and Uzbekistan on Monday agreed to accelerate efforts to raise bilateral trade to $2 billion as the 10th Session of the Pakistan–Uzbekistan Intergovernmental Commission (IGC) on Trade, Economic and Scientific-Technical Cooperation concluded in Islamabad.

According to a statement issued by the Ministry of Economic Affairs, the session was co-chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) for Industries and Production, and Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan.

Both sides expressed satisfaction over steady progress in bilateral engagement and reaffirmed their commitment to expanding trade, investment and economic cooperation. They underscored the importance of the Preferential Trade Agreement, welcomed progress under Phase-II concessions and agreed to expedite institutional mechanisms to achieve the $2 billion trade target. The discussions emphasised trade facilitation, logistics improvement, customs digitalisation, transit trade cooperation, development of regional trade corridors and enhanced business-to-business engagement, alongside improved visa facilitation for business communities.

The Commission agreed to establish the first Joint Working Group on labour relations to address labour mobility, skills development, workplace safety and employment visa-related issues. In the transport and communications sector, both sides welcomed interest in launching direct air services, reviewed progress on regional railway and connectivity projects, and agreed to advance alternative transport corridors to strengthen regional trade and transit connectivity.

Agriculture and food security cooperation featured prominently, with both sides welcoming progress on phytosanitary protocols enabling fruit exports from Uzbekistan to Pakistan. They agreed to expand collaboration through additional protocols, joint working groups and technical cooperation in plant protection, livestock development and agricultural research, with a focus on food security and sustainable growth.

In higher education, science and technology, the two sides agreed to promote joint research, faculty and student exchanges, vocational and technical training, innovation and capacity building, supported by newly signed scientific and technical agreements.

The Commission also advanced cooperation in energy and minerals, information technology, telecommunications, small and medium enterprises, industry, banking and finance.