Annual trade between Pakistan and Uzbekistan can surpass $1bn in the foreseeable future, according to Uzbek Ambassador to Islamabad Oybek Usmanov. Turnover presently stands at $150mn.
Usmanov said that the opening up of transit routes and a bilateral preferential trade agreement, which became effective in March, opened up new possibilities.
Uzbekistan’s President Shavkat Mirziyoyev, during his official visit to Islamabad last year, said: "Together with Pakistan, we are building a solid bridge of cooperation not only between the two countries, but also between the strategically important regions of Central and South Asia.”
Islamabad and Tashkent subsequently agreed to accelerate the implementation of major joint transport and communication projects aimed at strengthening the interconnectedness of Central and South Asia. The importance of an early start on construction of the strategic Termez–Mazar-i-Sharif–Kabul–Peshawar railway was mentioned. The link would open the way to Pakistani seaports for landlocked Uzbekistan.
Related Articles
Taiwan shuts down final nuclear reactor, pivots to LNG
Taiwan is looking to ramp up purchases of LNG cargoes on the spot market after the island shut down its final nuclear reactor, Bloomberg reported on May 19. The island nation has long ... more
Japan’s Eneos pivots investment from hydrogen to LNG
Japanese energy company Eneos Holdings will shift investment from hydrogen and sustainable aviation fuel (SAF) to LNG, Reuters reported on May 12. As part of its new three-year business ... more
Chinese coffee delegation to tour Uganda amid soaring exports
A Chinese coffee industry delegation will visit Uganda later this month for a national origin tour, Uganda’s Ambassador to China, Oliver Wonekha, announced on May 3 during the 137th China Import ... more
Most Read
-
Armenia courts African countries to supply diamond industry
1 month ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
13 days ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
24 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
1 month ago