Federal Minister for Commerce, Industries & Production Dr. Gohar Ejaz will unveils $50 Billion Trade Potential with Central Asia on Independence Day Celebration of Uzbekistan.
Dr. Gohar Ejaz, was the chief guest at the independence day celebration
of the Republic of Uzbekistan in Islamabad, highlighting the significant trade potential in Central Asian countries, totaling a staggering $50 billion.
Gohar pledged to achieve a remarkable $1 billion in trade with Uzbekistan within the current year.Over the past four years, Pakistan and Uzbekistan have made substantial progress in reviving their bilateral trade relations, with trade increasing from $27 million in 2019-20 to an impressive $126.05 million in 2022-23.
He emphasized the importance of Pakistan following Uzbekistan’s path to revolutionary agricultural development.The Minister conveyed his heartfelt congratulations to the people of Uzbekistan on this special occasion, highlighting the historical, cultural, and geographical ties that unite both nations.
He also pointed out the operational Transit Trade Agreement between the two countries since March 2022, aligning with Pakistan’s vision to become a trade, transit, and trans-shipment hub while enhancing regional connectivity with Central Asia.
Speaking on the importance of trade, MInister referenced the teachings of Prophet Muhammad (SAW) and stressed the need to follow His footsteps for real progress, with a vision to increase annual bilateral trade turnover with Uzbekistan to $1 billion.
A roadmap has already been signed to boost bilateral trade and facilitate investment by eliminating non-tariff trade barriers.The Ambassador of Uzbekistan warmly welcomed Commerce Minister’s vision and efforts, acknowledging the potential for further growth in sectors such as textiles, food, pharmaceuticals, and energy in the realm of bilateral trade.
