Uzbekistan eyes $1 bil­lion bi­lat­eral trade po­ten­tial with Pak­istan

Daily Messenger - - Sportlight -

IS­LAM­ABAD: Uzbekistan was set to be­come the big­gest trad­ing partner of Pak­istan from Cen­tral Asia as the bi­lat­eral trade be­tween the two coun­tries has im­proved from $36 mil­lion in 2017 to over $90 mil­lion in 2018.

Uzbekistan has over $500 mil­lion bi­lat­eral trade with Afghanistan and with more se­ri­ous ef­forts from both sides, Uzbekistan and Pak­istan have the po­ten­tial to in­crease the two-way trade vol­ume up to $1 bil­lion in next 5-6 years.

This was ob­served byMr Furqat A. Sidikov, Am­bas­sador of Uzbekistan while ad­dress­ing busi­ness com­mu­nity here at Is­lam­abad Cham­ber of Com­merce and In­dus­try (CCI), says a state­ment is­sued here on Fri­day.

Furqat A. Sidikov said that Uzbekistan was in­ter­ested in joint ven­tures with Pak­istan in agri­cul­tural ma­chin­ery, elec­tron­ics, tex­tiles and many other fields. He said Uzbekistan wanted a tri­lat­eral agree­ment of tran­sit trade with Pak­istan and Afghanistan in or­der to boost trade to higher lev­els.

He said Uzbekistan was also keen to build a rail­way link with Pak­istan through Afghanistan that would make Pak­istan an in­ter­na­tional hub of busi­ness ac­tiv­i­ties. He said Uzbekistan was de­sirous of sign­ing a free trade agree­ment with Pak­istan that could boost trade up to the real po­ten­tial of both coun­tries.

He said that Pak­istan and Uzbekistan have great scope to en­hance co­op­er­a­tion in cul­ture and tourism. He said Uzbekistan has con­ducted di­rect flights be­tween La­hore & Tashkent and in fu­ture flights from Karachi and Is­lam­abad to Tashkent in­clud­ing cargo flights could also be ar­ranged.

He said di­rect flight from Is­lam­abad to Tashkent took just one hour and stressed that both coun­tries should take full ad­van­tage of their ge­o­graph­i­cal prox­im­ity for en­hanc­ing trade and eco­nomic re­la­tions.

He said Pak-Uzbek Busi­ness Coun­cil was play­ing a fa­cil­i­ta­tion role for the busi­ness com­mu­nity of both coun­tries to im­prove trade and em­pha­sized that Pak­istani en­trepreneurs should take ben­e­fit of this plat­form to pro­mote trade re­la­tions with Uzbekistan.

Speak­ing at the oc­ca­sion, Ahmed Has­san Moughal, Pres­i­dent, ICCI said that Pak­istan ac­corded great im­por­tance to its close re­la­tions with Uzbekistan. He said en­hanced co­op­er­a­tion was highly ben­e­fi­cial for both coun­tries as Uzbekistan could pro­vide easy ac­cess to Pak­istan to Cen­tral Asia, Europe and Rus­sian mar­kets while Pak­istan could pro­vide bet­ter ac­cess to Uzbekistan to reach South Asia, Mid­dle East, Africa and other mar­kets.

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