Uzbekistan, Pakistan agreed to increase trade turnover to $1 billion

Uzbekistan and Pakistan have signed a number of memorandums to expand trade ties and economic cooperation, Spot reports with reference to Dawn. 

Nine memorandums were signed by MIFT head Jamshid Khodjayev and Pakistani trade minister Naveed Qamar. The meeting was held during the visit of the Uzbek delegation to Islamabad on December 27.

In particular, the parties set the date for the entry into force of the preferential trade agreement as February 2023. By this time, Uzbekistan will complete the ratification of the document, which has already passed in Pakistan.

Seminars on the prospects of new markets will be organized for the business communities of both countries. The volume of mutual trade between the two countries is planned to reach $1 billion in the coming years.

The meeting participants agreed on the implementation of an agreement on transit trade - the Uzbek government is expected to present the rules in 2023. The parties also intend to develop a joint strategy for the transit of goods through Afghanistan.

Representatives of the two countries agreed to visit Kabul to solve problems with the transportation of goods through the Afghan territory. During the visit, which is scheduled for late January, a joint action plan will be presented to the interim government of Afghanistan.