APTMA, Uzbek textile bodies agree to boost bilateral trade

LAHORE: The All Pakistan Textile Mills Association (APTMA) and textile associations of Uzbekistan have agreed to significantly enhance bilateral trade, which currently stands at $114 million.

The understanding was reached during a meeting between an Uzbek textile delegation and APTMA members and office-bearers, held at the APTMA House in Lahore on May 29, 2025.

The delegation, led by Tokhtaev Akobirjon Khakimovich, invited an APTMA delegation to visit Uzbekistan and urged them to participate in the Investment Expo scheduled to take place there next month.

The visiting delegates highlighted several agreements already signed between the two countries, including the Income Tax Convention and its Final Protocol. An agreement is also being finalised between the State Bank of Pakistan (SBP) and an Uzbek bank to enhance cooperation in the banking sector.

They noted the commencement of direct flights from Lahore to Tashkent, with a travel time of only two hours, and mentioned that additional routes from Islamabad and Karachi are being operationalised to further ease travel between the two nations.

The Uzbek side also discussed progress on finalising a transit trade agreement between Uzbekistan and Pakistan via Afghanistan. They emphasised that the distance from Torkham to Uzbekistan is only 600km, with a secure road corridor, and added that the process for issuing drivers’ visas is being expedited to facilitate the swift movement of goods and people.

Speaking on the occasion, APTMA Chairperson Kamran Arshad outlined challenges hindering bilateral trade, including logistical constraints and difficulties related to the use of letters of credit (LCs) in trade transactions.