ISLAMABAD (APP) – The Ambassador of Uzbekistan to Pakistan, Alisher Tukhtaev, has stated that both countries are committed to achieving a $1 billion trade target in the coming years by enhancing transit and bilateral trade.
Speaking to Uzbek media, he highlighted ongoing joint efforts to boost trade volume, strengthen industrial cooperation, and expand the export and import of food, textiles, and electrical products.
To facilitate trade, negotiations are underway to expand the list of products under the Preferential Trade Agreement and improve interbank payments, which will help lower customs duties and streamline trade relations.
Efforts are also being made to optimize cargo transportation routes and enhance customs processes in collaboration with major transport and logistics companies.
Both countries have outlined plans for joint projects and initiatives in trade, banking, finance, logistics, and cultural exchange.
By the end of 2024, trade turnover between the two nations had reached $404 million. Uzbekistan aims to increase agricultural exports to Pakistan, particularly in fruits, vegetables, grains, and textiles. Meanwhile, Pakistan’s pharmaceutical, textile, construction, and IT sectors hold significant potential for the Uzbek market.
The ambassador also emphasized the vast opportunities for joint ventures in the textile and agricultural sectors, fostering innovation, improving food security, and expanding market reach.
