Preferential Trade Agreement  between Pakistan and Uzbekistan to open opportunities for bilateral trade – UBG

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KARACHI: The leaders and members of UBG have said that the Preferential Trade Agreement (PTA) between Pakistan and Uzbekistan was long desire of the business community which has been accomplished in the recent visit of President of Uzbekistan. They said that PTA signed by the head of states of both the countries  has considerably  enhanced the confidence of the business community  which will lead to promotion of bilateral trade & economic relations and encourage them to enter into joint ventures in various potential sectors hitherto unexplored. They further said that the reciprocal visit of President of Uzbekistan long awaited is vibrant indication to bring the business community of both countries more closer which will consequently result in enhancement of the volume of bilateral trade. Further commenting on the visit of President Uzbekistan they said that Pakistan considers Uzbekistan as a gate way to Central Asian Countries particularly Turkmenistan, Kazakhstan, Tajikistan, Kyrgyzstan. Improvement in bilateral trade will be beneficial for both the countries as Pakistan can penetrate in Central Asian region having trade potential of US $ 90 billion while Uzbekistan can drive benefits from Gwadar port and huge potential market of Pakistan. UBG also welcome the decision announced by both the countries for the fast track measures to further expand the connectivity agenda and economic integration and Termez-Mazar-e-Sharif-Kabul-Peshawar Railway project for the future in the region which will bring about economic revolution in ECO region.  Pakistan and Uzbekistan who are important members of ECO, Shanghai Cooperation Organization and Organization of Islamic Countries can jointly project economic activities in these organizations, UBG further said   The leadership of UBG also emphasized on the need of cooperation for promotion of tourism and direct flights between both the countries.

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