Pakistan and Uzbekistan signed an agreement to expand investments and increase bilateral trade volume to $1 billion. The agreement will enter into force from 1 February 2023. The trade volume between Pakistan and Uzbekistan was 181.5 million dollars last year.
According to the news in the national media, Uzbekistan Investment and Foreign Trade Minister Cemşid Hocayev, who came to Pakistan as part of his official visit, met with Pakistani Trade Minister Seyid Navid Kamar in the capital Islamabad.
After the meeting, the two ministers signed an agreement to expand investments and increase the bilateral trade volume to $1 billion.
Pakistani Trade Minister Kamar, in his statement, said that they signed a Preferential Trade Agreement between the two countries and the agreement will come into effect from 1 February 2023.
Kamar stated that the two countries agreed to develop a common strategy for transit trade through Afghanistan and emphasized that they proposed the establishment of a tripartite joint forum consisting of Pakistan, Afghanistan and Uzbekistan in this context.
The trade volume between Pakistan and Uzbekistan was 181.5 million dollars last year.