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Pakistan’s exports to Uzbekistan witnesses sharp increase

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ISLAMABAD, Pakistan: The Minister for Commerce and Textile has told that National Assembly that Pakistan’s exports to Uzbekistan has witnessed an increase and it stood US$ 23.74 million in Fiscal year (FY) 2018-19 against US$ 8.47 million in FY 2017-18.

In a written to a question, the minister told the House that the trade volume between Pakistan and Uzbekistan has vastly increased from US$ 14 million in FY 2017-18 to US$ 28.7 million in FY 2018-19.

While apprising the House of the steps being taken by the incumbent government to boost up domestic exports to Uzbekistan in FY 2019-20, the minister told that a Memorandum of Understanding (MoU) was signed between Ministry of Foreign Economic Relation, Investment and Trade of Uzbekistan and Trade Development Authority of Pakistan (TDAP), under which, the two sides have pledged to exchange business delegations, and to arrange seminars on trade regularly.

Furthermore, the Ministry of Commerce and the Ministry for Investments and Foreign Trade of the Republic of Uzbekistan have agreed to sign a MoU on the establishment of a Joint Uzbekistan-Pakistan working group on Trade and Economic Affairs.

The Ministry of Commerce has proposed to sign the MoU in the sixthh Meeting of Joint Inter-­Governmental Commission between Pakistan and Uzbekistan scheduled on November 13-14, 2019.

The house was apprised that although there is no commercial section in Tashkent; however, the Ministry of Commerce has engaged the business community through the platform of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) to organize exhibitions in Tashkent and exchange business delegations on regular basis.

It was further told that the Uzbekistan Chamber of Commerce and Industry attended Expo Pakistan 2017, and the Secretary Commerce met with them on the sidelines of Central Asia Regional Economic Cooperation (CAREC) meeting in July 2019 at Tashkent. It was told that the work is underway to enhance exports of Pharma, Citrus and dates.

In addition, participation in bilateral exhibitions, and exchange of business delegation between Pakistan and Uzbekistan will also be arranged.

Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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