Pakistan, Uzbekistan agree to increase bilateral trade to $4B

KARACHI, Pakistan

Pakistan and Uzbekistan have agreed to increase bilateral trade to $4 billion by expanding cooperation in trade, commerce, energy, and tourism sectors in the next four years.

The agreement was reached during a meeting between Uzbekistan's President Shavkat Mirziyoyev and visiting Pakistani Prime Minister Shehbaz Sharif in Tashkent, a statement from the Prime Minister’s Office in Islamabad said.

Sharif, who is on a two-day state visit to the Central Asian country, and Mirziyoyev also agreed to work toward "effective" implementation of the two countries' 2021 Transit Trade Agreement and 2023 Preferential Trade Agreement, as well as increased investment in their respective Exclusive Economic Zones and cooperation between the two business communities.

The two leaders vowed to work together for the implementation of the 573-kilometer (356-mile) Uzbekistan-Afghanistan-Pakistan railway project to increase regional trade and connectivity.

They also discussed a string of regional and international issues, with a focus on the effective role of global organizations, particularly the UN, for durable peace in the world.

The two sides also held delegation-level talks to find ways of increasing cooperation in trade, commerce, energy, tourism, education, communication, and other sectors.