Action plan worth $1bn sought: Uzbek envoy expresses interest in e-commerce, trade and industry sectors

ISLAMABAD: Uzbek Ambassador to Pakistan, Aybek Arif Usmanov, called on Federal Minister for Commerce Syed Naveed Qamar on Tuesday and showed a keen interest to invest in e-commerce, trade and industry in Pakistan.

During the meeting, Syed Naveed Qamar acknowledged the enormous potential for trade between the two countries and said that there was a need to identify new sectors for cooperation.

He assured the Ambassador of his full support and cooperation to explore avenues for mutual investments to meet actual potential of trade and appreciated the Ambassador’s efforts to enhance bilateral trade.

The Ambassador expressed his interest in trade, industry, and e-commerce sectors and emphasized the need to take more practical steps to meet the $1 billion action plan between Pakistan and Uzbekistan.

He said bilateral trade relations had shown a positive trend, and trade data of FY 2021-22 reflects a growth of nearly $91 million (with exports amounting to $57 million), whereas Pakistan’s exports to Uzbekistan have doubled from $36.56 million in July-March FY 2021-22 to $73.12 million during July-March FY 2022-23.

He also agreed with the Minister that if one could remove unwanted barriers then the trade volume could touch $5 billion very easily.

The Ambassador also acknowledged and appreciated the Minister’s efforts for recent consolidation among political parties to bring them all on the negotiation table.

The two sides agreed to continue working closely together to identify opportunities for cooperation in trade, investment, and other sectors.

Copyright Business Recorder, 2023