Tashkent (Web Des): Pakistan and Uzbekistan on Friday signed $1 billion trade agreement to encourage the exchange of goods and services.
The agreement was signed at the 8th Session of Pakistan-Uzbekistan Inter-governmental Commission (IGC) on Trade-Economic and Scientific-Technical Cooperation held in Tashkent, the Radio Pakistan reported.
The IGC meeting was co-chaired by the Uzbek Minister of Investments, Industry and Trade Laziz Kudratov and Minister for Finance Ishaq Dar.
On the occasion, Ishaq Dar appreciated the deeper interest by the Uzbek side in strengthening the relationship and lauded progress already made in the fields of transport and trade.
He invited Uzbek side to explore the areas in automobiles, information technology and natural minerals.
Both sides emphasized that there was huge untapped potential in investment cooperation and bilateral trade.
The two sides agreed to hold the ninth meeting of the Pakistan-Uzbekistan IGC next year in Pakistan.
The meeting mainly focused on bilateral economic cooperation in various sectors including commerce and trade, banking, industries and production, energy, transportation and agriculture and tourism.
Furthermore, the IGC recognized the importance of closer collaboration in order to bring sustainable development through technology, innovation, and economic partnership.
The commission expressed satisfaction on the bilateral trade volume between the two countries and desired to enhance it further in the future.