Islamabad ; 7 May 2020 -Abdul Razak Dawood, adviser to the prime minister on commerce and investment has said that Pakistani exporters should look towards Uzbekistan as a prospective market. Joint Working Group will be established soon to enhance trade and economic relations .
The Adviser had a conference call with Uzbek Deputy Prime Minister Sardor Umurzakov on Thursday.
Uzbek Ambassador to Pakistan Furqat Sidikov also attended the meeting, held at the Ministry of Commerce, Islamabad.
Both the sides expressed the desire to enhance trade relations between the two countries.
It was resolved that all-out efforts would be made to enhance bilateral trade relations, establishing joint ventures in the fields of agriculture, textile, pharma, tourism and construction, and greater utilisation of the institutions such as Inter-Governmental Commission and Joint Business Council for giving impetus to the government-to-government and business-to-business cooperation.
Uzbek side expressed desire for utilization of Karachi and Gwadar ports for its trade operations, and establishment of joint working group for trade and investment cooperation. Uzbek deputy prime minister also requested Pakistan to support its cause in accession to Quadrilateral Traffic in Transit Agreement (QTTA), and share experience on achieving GSP Plus status.
It was agreed that institutional mechanism between both the countries needs to be upgraded.
The adviser apprised the Uzbek side that the memorandum of understanding on the establishment of “Pakistan-Uzbekistan Joint Working Group on Trade and Investment” will be ready for signature after seeking approval from the cabinet.
Details shared by the Embassy of Uzbekistan
The Embassy in collaboration with Foreign Ministry and Commerce Ministry of Pakistan organized online negotiations between the Deputy Prime Minister of the Republic of Uzbekistan H.E. Mr. Sardor Umurzakov and Advisor to the Prime Minister of Pakistan on Trade, Textiles and Investments H.E. Mr. Abdul Razak Dawood via Teleconferencing.
During the negotiations, the parties discussed measures to prevent the further spread of coronavirus infection, eliminate its negative consequences on the economies of both countries, as well as the current bilateral Uzbek-Pak trade and economic interaction and its prospects, including cooperation on diversification and development of interregional transport and logistics cooperation.
The event was held in a very positive manner and the parties reached a wide range of agreements to further strengthen the mutually beneficial partnership between the two fraternal States.
