ISLAMABAD: Oybek Arif Usmanov, Ambassador of Uzbekistan to Pakistan, said on Sunday that bilateral trade volume between the two countries have reached over 250 million dollars by the end of 2022 and both sides were focusing on exploring more avenues of trade and investments in different sectors to enhance trade further.
He said implementing the Preferential Trade Agreement between Pakistan and Uzbekistan and the recently signed 9 Memorandum of Understanding (MoUs), would further expand trade volume to 1 billion dollars between the two countries.
He was talking to APP during an Iftar dinner hosted by the Embassy of Uzbekistan for experts and journalists.
The envoy welcomed all the guests and said that the Pakistan-Uzbekistan friendship had reached new heights. Both Muslim countries have cordial relations, and their leadership plays a great role in deepening these ties and expanding cooperation.
Ambassador explains trade turnover
Explaining the bilateral trade turnover, the envoy said that the trade volume in 2014 amounted to 36 million dollars; in 2018, it became 98 million dollars, in 2020 amounted to around 120 million dollars and in 2021, it reached 180 million dollars, while in 2022, it reached to 250 million dollars.
He said that these figures reflect that Uzbek-Pak trade volume was increasing rapidly.
Now, Uzbekistan is among its largest trade partners with Pakistan in Central Asia and Pakistan has been listed in the top ten main foreign trade partners for Uzbekistan, he added.
The ambassador further said that the Pakistani importers were interested in Uzbek petr
ochemical products, foodstuff, textiles, pure Uzbek silk products and agricultural machinery. While the Uzbek importers are getting Pakistani pharmaceutical products, chemicals, textile and leather garments, food items and agricultural products.
Usmanov said that the government of Uzbekistan had created a favourable investment environment for Pakistani people in business, and about 207 joint venture companies are successfully operating in Uzbekistan. –APP
