ISLAMABAD: Pakistan and Uzbekistan are dedicated for reaching the goal of $1 billion within the coming years, by improve the transit and bilateral commerce between either side, says Ambassador of Republic of Uzbekistan to Pakistan, Alisher Tukhtaev.
At present, each of the nations are actively engaged on joint measures aimed toward additional growing the quantity of mutual commerce, reaching the milestone of $ 1 billion within the coming years, and accelerating industrial cooperation, the Ambassador mentioned this whereas speaking to Uzbek media.
Each nations are taking particular measures to develop the export and import construction of meals, textile, and electrical merchandise, he mentioned.
Specifically, to extend commerce turnover between the 2 nations and stimulate commerce, “we’re conducting negotiations on increasing the record of merchandise inside the framework of the Preferential Commerce Settlement and enhancing interbank funds. This can serve to scale back customs cost charges and speed up mutual commerce relations.”
He mentioned that problems with diversifying quick and handy cargo transportation routes and optimizing customs processes are being developed in cooperation with giant transport and logistics corporations.
As a way to additional develop relations between Uzbekistan and Pakistan, either side have included in work plan the implementation of a variety of joint occasions and initiatives within the commerce and financial, banking and finance, transport and logistics, in addition to cultural and humanitarian sectors.
He mentioned that commerce turnover between our nations has been steadily rising and as of the top of 2024, the turnover is 404 million.
Alisher Tukhtaev mentioned that Uzbekistan is excited by growing the quantity of agricultural exports to Pakistan, particularly within the provide of fruit and veggies, grain merchandise, and textile merchandise.
On the identical time, Pakistan’s potential within the pharmaceutical, textile, building supplies, and knowledge know-how sectors can be of nice significance for the Uzbek market, he mentioned.
He mentioned that there are broad alternatives for implementing giant joint initiatives within the textile sector and Combing our strengths will assist create aggressive merchandise within the international market.
He mentioned that agricultural sector have enormous potential for the trade of superior applied sciences, joint initiatives on product processing, in addition to for growing the quantity of fruit, vegetable and grain exports and either side can cooperate to enhance meals safety and attain new markets.
Uzbekistan and Pakistan are additionally quickly creating the IT sector. Our nations can give attention to creating IT facilities, engaged on joint instructional applications and digitalization initiatives, in addition to outsourcing providers, he mentioned.
This sort of cooperation opens up nice prospects for our economies.
Replying on the brand new promising initiatives are deliberate within the commerce and financial sphere, he mentioned that there are plans to develop transit commerce by the port of Karachi, in addition to to create joint funding funds and it will strengthen commerce relations between the 2 nations.
Enhancing infrastructure, constructing logistics facilities within the territories of the 2 nations, opening buying and selling homes and strengthening industrial cooperation are precedence areas of bilateral relations within the area of financial diplomacy, he mentioned.
Uzbek envoy mentioned that as well as, either side are planning to proceed the expertise of “Made in Pakistan” and “Made in Uzbekistan” nationwide industrial exhibitions held in Tashkent and Lahore sooner or later, and to extend the variety of merchandise displayed.
“We’ll create the premise for the signing of latest funding initiatives and contracts by organizing enterprise boards with the participation of entrepreneurs from each nations.”
Now either side are working with the related ministries and departments of Uzbekistan and Pakistan to totally implement the provisions of the Transit Commerce and Preferential Commerce Agreements, enhance the quantity of mutual commerce by increasing the variety of preferential merchandise, and create favorable situations for the free motion of products and providers, he mentioned.
Answering on the function of chambers of commerce and business of Uzbekistan and Pakistan within the improvement of mutual commerce and investments, he mentioned
the relations between the chambers of commerce and business of Uzbekistan and Pakistan, and current mechanisms of cooperation between the enterprise communities of two nations open up nice alternatives for the event and strengthening of mutual financial ties.
He mentioned that Chambers of commerce and business could be the principle mediators in facilitating mutual enterprise contacts and implementing joint initiatives.
The Ambassador mentioned that each of the nations can develop cooperation by coordinating efforts to develop investments within the strategically vital infrastructure and vitality sectors, creating a positive funding local weather, and implementing joint initiatives.
He mentioned that there’s nice potential for regional connectivity initiatives within the infrastructure sector, particularly, inside the framework of the Trans-Afghan Hall.
This hall will present dependable transport hyperlinks between Uzbekistan and Pakistan and facilitate entry to the markets of Central and South Asia, he mentioned.
He mentioned that Joint investments in roads and railways, logistics facilities, and cargo terminals will assist develop commerce and strengthen financial ties.
Alisher Tukhtaev mentioned the vitality sector can be one of many promising areas, “We are able to cooperate on initiatives to develop renewable vitality sources, together with photo voltaic and wind energy vegetation, hydropower, and fuel infrastructure.”
These joint initiatives will guarantee vitality safety and speed up the transition to sustainable vitality sources, he mentioned.