Uzbekistan Deputy PM, Advisor to Pakistan PM discuss issues of promoting cooperation in all priority areas

Tashkent/Islamabad: On January 25, 2022, Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov held talks with the Advisor to the Prime Minister of Pakistan for Commerce and Investment Abdul Razak Dawood, via videoconference.

The agenda of the talks included a wide range of issues of cooperation in such areas as investment, mutual trade, industrial cooperation and transport logistics.

The course of implementation of the agreements reached during the visit of the Prime Minister of Pakistan to Uzbekistan in July 2021 was considered in detail. The progress made in the promotion of joint projects and initiatives was discussed, the existing issues in each direction were considered and worked out. The commitment to close cooperation to accelerate the implementation of agreed projects was expressed.

The success developed by the two states in increasing trade turnover was noted: by the end of 2021, the volume of mutual trade increased by 46 percent compared to the previous year. In this context, the progress of work on the draft Agreement on Preferential Trade was studied. The parties agreed to intensify joint work in this direction to coordinate the document and accelerate its signing during the current year.

The Uzbek side welcomed Pakistan’s ratification of the Transit and Trade Agreement. It was agreed that negotiations between the leadership and experts of the transport and customs departments of the two countries will be organized shortly to coordinate the mechanisms for the practical implementation of the agreement.

Proposals on deepening investment cooperation, strengthening ties between the businesspeople of the two countries, as well as establishing cooperation in the banking sector were considered. An agreement was reached to organize a visit in February by a delegation of the leadership of Pakistani companies and commercial banks to discuss promising areas of interaction and the implementation of mutually beneficial projects.

Issues related to the implementation of joint projects in the transport logistics sector were also considered. In particular, further steps for the practical implementation of Termez–Mazar-i-Sharif–Kabul-Peshawar railway construction project was discussed. The urgency of intensifying bilateral passenger and cargo transportation between the two countries was noted.

Following the talks, additional agreements were reached within the framework of fulfilling common tasks.