Pakistan’s Federal Minister for Commerce Syed Naveed Qamar on Monday (December 26) said that the Preferential Trade Agreement (PTA) between Pakistan and Uzbekistan would be implemented from February 1, 2023, Daily Times has reported.
As part of the visit of Deputy Prime Minister/Minister of Investment and Foreign Trade Khodjaev Jamshid Abdukhakimovich, a Memorandum of Understanding (MoU) for the implementation of the bilateral agreement was also signed.
Qamar said that after the implementation of PTA and other trade agreements between the two countries, “there is a possibility of increasing the bilateral trade to $1bn.”
He said that similarly Transit Trade Agreements between the two countries would also be implemented from January 1, 2023. “Negotiations are taking place for agreements on transit trade with other Central Asian states”, the minister said.
He mentioned that a joint strategy was proposed for the transport of goods to Pakistan, Uzbekistan, and Afghanistan along with transit trade.
Qamar also said that it was decided that Pakistan would support Uzbekistan’s membership in the World Trade Organization (WTO).
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