Uzbekistan Significant Trading Partner Of Pakistan In Central Asia: Commerce Minister

Federal Minister for Commerce, Jam Kamal Khan on Saturday said that Uzbekistan is a significant trading partner of Pakistan in Central Asia, which signed the first transit trade agreement with Pakistan

ISLAMABAD, (UrduPoint / Pakistan Point News - 7th Sep, 2024) Federal Minister for Commerce, Jam Kamal Khan on Saturday said that Uzbekistan is a significant trading partner of Pakistan in Central Asia, which signed the first transit trade agreement with Pakistan.

The 33rd Independence Day of the Republic of Uzbekistan was celebrated with great enthusiasm in Islamabad, with Jam Kamal Khan, Pakistan's Federal Minister for Commerce, gracing the event as the Chief Guest.

The ceremony, attended by dignitaries, diplomats, and military officials, marked a new chapter in the flourishing relationship between Pakistan and Uzbekistan.

In his address, Minister Jam Kamal Khan emphasized the unique and enduring ties between Pakistan and Uzbekistan, rooted in shared history and culture.

Highlighting the importance of trade, he stated, “Pakistan views Uzbekistan as a significant trading partner in Central Asia. Over the past three years, bilateral trade has grown substantially, reflecting the strong bond between our two nations."

Jam mentioned the successful "Made in Pakistan" exhibition held in Tashkent in June 2024, which featured 85 Pakistani companies and attracted hundreds of Uzbek businessmen.

Minister Jam Kamal encouraged both nations' business communities to seize opportunities through the business forum held on the occasion, stressing that economic and trade relations should reach new heights.

Jam Kamal Khan further remarked on Uzbekistan's pivotal role as the first Central Asian nation to sign a Transit Trade Agreement and Preferential Trade Agreement with Pakistan. Uzbek traders are increasingly using Pakistani ports for their global imports, Jam added.

The Uzbek Ambassador to Pakistan, Oybek Usmanov, praised Pakistan's support in enhancing connectivity, particularly in the fields of defense, trade, and regional infrastructure.

Ambassador Usmanov highlighted that the bilateral trade had reached half a billion Dollars, with plans to reach $1 billion soon, thanks to joint efforts in transit and logistics agreements.

He also pointed out the trilateral Uzbekistan-Afghanistan-Pakistan railway project as a trans-formative initiative for regional connectivity.

In closing, both leaders expressed optimism for the future, with Minister Jam Kamal reiterating his commitment to deepening the economic ties between the two nations.

“Despite challenges, there will be steady, gradual, but persistent growth in Pakistan-Uzbekistan trade, with enhanced public and private sector engagement,”. he spoke.