Pakistan and Uzbekistan deliberated upon measures to increase trade between the two states, Federal Commerce Minister Gohar Ejaz said on Tuesday.
He was talking to the media along with the Deputy Prime Minister of Uzbekistan Dr Jamshid Khodjaev Abdukhakomovich.
Opening of banking channels, Gwadar port, logistics and container services came under discussion, the minister said, adding that presidents of three major banks of Uzbekistan were among the visiting delegates.
“Pakistan should get energy from Central Asian countries at low prices and our aim is to increase the connections between the business community.
“Pakistan and Uzbekistan have strategic ties. The two states have a bilateral trade of $100 million.”
The Uzbek Deputy PM said meetings have been held with the business community too.
He showed interest in increasing trade with Pakistan, saying: “Trade is our first priority. Business payments between Pakistan and Uzbekistan have been discussed.”
He added: “Tripartite talks have also been held with Afghanistan. The Tripartite Investment Forum is an important milestone. Digitizing commerce is a big step forward.
“A meeting of the joint working group will be held every month. Negotiations have been held on the Trans-Afghan Rail Project and Uzbek authorities want to work on this project.”
Reportedly, the commerce ministers of Pakistan and Afghanistan and the Deputy Prime Minister of Uzbekistan led the first trilateral meeting, aimed at strengthening economic ties, regional cooperation and connectivity.
The meeting focused on boosting trade relations among the three nations. Discussions centred around reducing trade barriers, simplifying customs procedures, and promoting smoother cross-border trade.
The ministers explored investment prospects in various sectors which would open up avenues for joint ventures, public-private partnerships, and increased foreign direct investment.
Recognising the importance of regional connectivity, they discussed ways to enhance transportation networks and promote infrastructure development to facilitate the movement of goods.
“The trilateral cooperation is expected to stimulate economic growth in all three countries. By leveraging their strengths and resources, Pakistan, Afghanistan, and Uzbekistan can tap into new markets and expand their economies,” said Gohar Ejaz.
He added “By promoting economic interdependence and cooperation, we can build a foundation for sustainable development and prosperity in the region.
“The trilateral meeting marks an important step towards closer economic cooperation and sets the stage for increased trade, investment, and connectivity, benefiting all three countries and paving the way for a prosperous and integrated region.”