Pakistan and Uzbekistan are ready to sign the Transit Trade Agreement (TTA) on July 15, 2021. TTA will pave the way for having access for its products to the 90 billion dollars market of five Central Asian States. The signing of TTA will be the beginning of Pakistan’s policy to have regional connectivity.
The Pakistan-Uzbekistan Business Council would hold its meeting on July 14. Pakistan’s 100 businessmen, mainly from textile, pharmaceutical, agro-food processing, engineering, electrical appliances, and services sectors, would make B2B deals.
Pakistan’s delegation of over 100 business people will also reach Tashkent to have B2B (business to business) meetings with their counterparts in Uzbekistan to explore the market for their products. Pakistan and Uzbekistan will hold a joint ministerial conference on trade and investment.
In addition, technical-level talks would be held between the two countries.
Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Textiles and Investment, said that Transit Trade Agreement would guarantee the free movement of Pakistani trucks carrying goods in Uzbekistan and Uzbek trucks in Pakistan. The transit agreement would be governed under the Convention of TIR (Transports Internationaux Routiers or International Road Transports).
He also said that Uzbekistan is the gateway to important Central Asian Republics such as Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan.
More importantly, Uzbekistan is also the gateway for the Russian federation.
