Pakistan & Uzbekistan to sign Preferential Trade Agreement (PTA) in 3 months

PM Imran Khan is currently on a visit to Uzbekistan.

Prime Minister Imran Khan and the President of Uzbekistan, Shavkat Mirziyoyev, shake hands after a meeting. (Radio Pakistan)

Pakistan and Uzbekistan are expected to sign the Preferential Trade Agreement (PTA) in a couple of months.

The signing of the PTA has been agreed upon during the Prime Minister, Imran Khan, and his cabinet’s ongoing visit to Tashkent.

PM Imran Khan giving an address at the Uzbekistan-Pakistan Business Forum in Tashkent. (Radio Pakistan)

This was revealed by the Secretary Board of Investment, Fareena Mazhar, while speaking to the media in the Uzbek capital.

According to Fareena, the PTA agreement between the two countries will be finalized in two months and will most likely be signed within three months.

She stated that there is already a consensus between the two countries on essential matters. 

“The feedback from our businesses is quite positive, and we see bilateral cooperations in several areas,” she said.

Moreover, Fareena informed that the business community is passionate, particularly about the Trans-Afghan railway, which will connect Pakistan and Uzbekistan via Afghanistan.

Furthermore, the BOI secretary said that Pakistan’s seaports would attract Uzbek businesses.

It is pertinent to note that Uzbekistan has already expressed its desire to shift its trade from the Iranian port of Bandar Abbas to Pakistani seaports.

The Advisor to the Prime Minister on Commerce & Investment, Abdul Razak Dawood, giving an address at the Uzbekistan-Pakistan Business Forum in Tashkent. (Radio Pakistan)

Meanwhile, the Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, in his address at the Uzbekistan-Pakistan Business Forum, confirmed that the two countries are striving towards signing the PTA.

Dawood expressed that the PTA, along with cooperation in the banking system and improvement in customs, would lay the basis for a new era of cooperation between Pakistan and Uzbekistan.

The Advisor to the premier added that Pakistani businesspeople had already developed a plan for investment in Uzbekistan.

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