BAKU, Azerbaijan, February 28. Uzbekistan and Pakistan have signed a $1 billion agreement aimed at expanding bilateral trade, Trend reports via the source in the Uzbek Presidential Administration.
The document was signed at the recent meeting between Uzbekistan’s Minister of Investment, Industry, and Trade Laziz Kudratov, and Pakistan’s Minister of Finance Muhammad Ishaq Dar.
During the meeting, the sides discussed prospects for the development of bilateral cooperation in the fields such as transport and logistics, investment, and industry, as well as cooperation in the sphere of banking.
Following the talks, besides signing the agreement, the parties agreed to accelerate the construction of the Trans-Afghan railway construction, increase the volume of multimodal cargo transportation, and implement the mechanism of SWAP [the mechanism through which countries will exchange the cash flows] operations between the Central Banks.
Furthermore, trade turnover between Uzbekistan and Pakistan in 2022 amounted to $240 million. During the reporting period Pakistan imported from Uzbekistan some 65,300 tons of fruits and vegetables worth $101.2. Pakistan ranked 4th among countries-importers of Uzbek fruit and vegetables.