Islamabad: Pakistan and Uzbekistan have signed a USD 1 billion trade agreement to encourage the exchange of goods and services between the two countries, news sources reported on February 27.
The agreement was signed during the eighth meeting of the Pakistan-Uzbekistan Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) in Tashkent. The meeting focused on bilateral economic cooperation in various sectors, including commerce and trade, banking, industries and production, investment, textile industry, energy, oil and natural resources, transportation and communication, agriculture and tourism, and culture development. During the talks, both countries expressed a commitment to enhancing bilateral connectivity through diverse modes, with Uzbekistan showing particular interest in exploring opportunities in automobiles, information technology, and natural minerals. The next meeting of the Pakistan-Uzbekistan Inter-governmental Commission is scheduled to be held in Pakistan next year.
It is important to note that Pakistan has laid out a plan to connect to the Central Asian Republics (CARs) to fulfil energy requirements as all these states are energy-rich. Pakistan has recently proposed a railway line connected with the countries for direct land-based trade.
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