Uzbekistan, Pakistan keen on PTA, economic cooperation

ISLAMABAD: Uzbekistan and Pakistan on Monday showed resolve to enter into a preferential trade agreement and cooperate in shipping, textile, engineering and information technology sectors.

Shavkat Mirziyoyev, president of Uzbekistan discussed matters related to economic cooperation during a meeting with Adviser on Commerce and Investment Razak Dawood, who is leading a delegation to Uzbekistan, according to an official statement. This was the first meeting of joint working group on trade and economic affairs and the meeting of tripartite working group on the implementation of the ‘Trans-Afghan railway project’. The meeting would continue till 4 February.

The delegation includes officials of ministry of commerce and other related ministries and departments. The visit is a follow-up to the visit of Uzbekistan Deputy Prime Minister Sardor Umurzakov in September last year.

The proposed 573km long railway link will be laid from Peshawar to Kabul and from Kabul to Uzbekistan via Mazar-e-Sharif. Estimated 27 stations, 912 artificial constructions and seven tunnels will be established to facilitate cargo movement. The railway link will be crucial to economic development of the three countries, Central Asian Republics and will help strengthening the regional ties.

During the meeting of the joint working group, both sides expressed their desire to enhance trade relations between the two countries. In this regard, the two sides discussed streamlining bilateral phytosanitary standards, enhancing Banking Cooperation, working on rail and road connectivity matters and establishment of off dock terminal.

The meeting was told that private sector is quintessential for bilateral trade. The Uzbek side invited business delegation from Pakistan to organize a joint exhibition in Tashkent in June.

Both sides also discussed the possibility of establishment of joint cargo company by private sector, which can mitigate connectivity issues. The two sides also discussed to revive the joint business council, and assured that bilateral engagements like inter-governmental commission will be held more frequently.

They earlier agreed to convince the World Bank for investing around $4.8 billion in rail link among Pakistan, Uzbekistan, and Afghanistan. Presidents of Uzbekistan and Afghanistan had already signed the trilateral joint appeal to the World Bank, and the rail link would play its role for the progress and prosperity of these countries. The three countries will appeal to the president of the World Bank for financing. The World Bank authorities are already on board in response to this appeal.