Pakistan and Uzbekistan on Friday inked a trade agreement worth $1 billion during the eighth session of the Pakistan-Uzbekistan Inter-governmental Commission (IGC) on Trade-Economic and Scientific-Technical Cooperation.
According to the 24NewsHD TV channel, the agreement is expected to encourage the exchange of goods and services, while also easing the process of trade between the two countries.
The session was co-chaired by Uzbekistan’s Minister of Investments, Industry and Trade Uzbekistan Laziz Kudratov and by Pakistan's Federal Minister for Finance Senator Mohammad Ishaq Dar in Uzbekistan, according to a press statement.
The commission mainly 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.
The continuous efforts by both countries to encourage closer ties, especially in the fields of trade, transport, banking, and agriculture was appreciated by the Uzbek side.