Uzbek ambassador for increasing bilateral trade by $1 billion

ISLAMABAD: Uzbekistan’s Ambassador to Pakistan, Alisher Tukhtaev, stated that the two nations aim to significantly boost bilateral trade, targeting an initial milestone of $1 billion.

Ambassador Tukhtaev noted that trade turnover between Uzbekistan and Pakistan has steadily grown in recent years. Over the past five years, bilateral trade has increased nearly fourfold, rising from $122 million in 2019 to an anticipated $400 million by the end of 2024. He emphasized the need to further expand cooperation, deepen industrial ties, and explore new avenues for trade.Uzbekistan’s New Era: Establishing a Democratic Legal State through Electoral Reform and Parliamentary Empowerment

The ambassador highlighted the importance of improving transport and logistics infrastructure between the two countries to accelerate the circulation of goods. Eliminating trade barriers and simplifying tariffs, licensing, and customs procedures were identified as critical steps.

Ambassador Tukhtaev called for the full implementation of the Transit Trade and Preferential Trade Agreements (PTA), aiming to expand the list of preferential products under the PTA from 17 to at least 100. He also stressed the value of holding regular business forums and trade exhibitions to foster mutually beneficial partnerships and explore new projects.