Pakistan and Uzbekistan on Monday agreed to strengthen bilateral trade, setting the target of touching $300 million as trade volume.
The agreement was reached during the delegation-level talks as Foreign Minister Shah Mehmood Qureshi and Uzbekistan’s Deputy Prime Minister Elyor Ganiev led their respective sides here at the Ministry of Foreign Affairs. The two sides discussed implementation of the decisions taken by their leaderships in previous high-level meetings.
Qureshi said the visit of Uzbek deputy prime minister to Pakistan will strengthen economic strategic partnership and enhance regional cooperation. He said Pakistan wants to strengthen relations with Central Asian states.
Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar underlined that establishing transport and energy corridors will not only enhance regional connectivity but also boost trade and investment. He said Uzbek companies can develop production lines in special economic zones under China-Pakistan Economic Corridor (CPEC) framework for mutual benefit of both countries.
The minister said this during a delegation-level meeting with Deputy Prime Minister of Uzbekistan Elyor Majidovich Ganiyev.
Ambassador of Uzbekistan Furqat Sidikov, Secretary Planning Zafar Hasan, members of Planning Commission and senior official of the ministry were also present.
The minister highlighted that by 2050, electricity demand in Pakistan will climb to 50,000 MW, adding that Pakistan is committed to CASA1000 energy project being financed by the World Bank. He said Pakistan is planning to upgrade its railway system from Peshawar to Karachi to further boost economic activities.
The visiting dignitary said Uzbekistan has constructed a railway line from Tashkent to Mazar-e-Sharif which can be extended to Peshawar thereby enhancing regional connectivity and trade.
The minister stressed the need to strengthen regional connectivity through various road and railway infrastructure projects to the benefit of all member countries. He noted that trade between the two countries has increased significantly in the last two years which can be enhanced to $1 billion by exploiting potential in various areas.
Khusro said the visiting business delegation will have an opportunity to meet Pakistani business community to explore more possibilities for future cooperation that will set in motion the launching of joint ventures in different fields. He also called for regular exchange of business delegation between the two countries to further cement bilateral economic partnership.
Prime Minister Imran Khan and Uzbekistan’s Deputy Prime Minister Elyor Ganiev held a meeting and discussed matters of bilateral and regional importance. The two sides underscored the need for greater communication network to realize trade potential between Pakistan and Uzbekistan, in a meeting held at the PM Office.
Earlier, Prime Minister Khan received Deputy prime minister Ganiev on his arrival at the PM Office.