Uzbekistan to sign transit deal to shift its trade from Iranian To Pakistani Seaports
Pakistan and Uzbekistan will sign the AUPTT (Agreement between Uzbekistan and Pakistan on Transit Trade) tomorrow.
Pakistan is scheduled to sign a significant transit trade agreement with Uzbekistan tomorrow on Thursday, on the 15th of July, 2021.
The trade agreement will permit Uzbekistan to utilize Pakistani seaports for most of its trade and bypass Iran.
The agreement will be inked during Prime Minister Imran Khan’s visit to the Uzbek capital of Tashkent to attend the Pakistan-Uzbekistan “Silk Route Reconnect” Business Forum on the 15th and the 16th of July.
The prime minister would be accompanied by a high-level delegation, including the Foreign Minister, Shah Mahmood Qureshi, the Adviser to the Prime Minister on Commerce, Industries and Production & Investment, Abdul Razak Dawood, and other members of the cabinet.
During the premier’s visit, Pakistan and Uzbekistan will sign the AUPTT (Agreement between Uzbekistan and Pakistan on Transit Trade).
The AUPTT would give landlocked Uzbekistan access to Pakistani seaports and offer all five Central Asian States access to Pakistani exports.
This would help magnify trade and regional connectivity and open doors for increasing Pakistan’s exports to Uzbekistan.
Pakistan would also be able to tap and explore the wider $90 billion Central Asian market for potential exports via regional connectivity with Uzbekistan.
As of now, the landlocked Central Asian state of Uzbekistan heavily relies on the Iranian seaport of Bandar Abbas, accessed via the landlocked Central Asian state of Turkmenistan, for its trade via sea routes.
Nevertheless, most of Uzbekistan’s trade via sea lanes will soon be shifted to Pakistani harbors, mainly Gwadar Port, after the signing of the AUPTT transit agreement.
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