Pakistan urges Uzbekistan to explore textile ventures

28 Dec '16

2 min read

Pakistan has urged Uzbekistan to explore options for textile joint ventures in the country with an aim to open up new avenues in regional trade in both economies. Khurram Dastgir Khan, minister of commerce of Pakistan said that there is great trade potential between both nations and the current bilateral trade does not reflect the true potential.

An Uzbek delegation headed by Ulugbek Rozukulov, deputy prime minister of Uzbekistan, recently visited Pakistan and attended a meeting chaired by Khan, who said that the visit will be helpful in encouraging trade between the two nations.

The minister also listed certain reasons that affect trade expansion. These include lack of direct land routes, cargo links, marketing strategies and visa facilitation among others, according to Pakistani media reports. He added that both countries need to work together to tackle barriers and facilitate trade.

Khan invited Uzbekistan’s public and private sectors to organise exhibitions in commercial hubs like Karachi and Lahore to promote trade. The Trade Development Authority of Pakistan (TDAP) and ministry of economic affair and investment of Uzbekistan have already signed a memorandum of understanding to promote trade.

Rozukulov said that Uzbekistan will fully support Pakistan for promoting bilateral trade and also informed about Special Economic Zones in his country that offer zero tariffs. He added that Pakistani investors can benefit from these zones. (KD)

Fibre2Fashion News Desk – India

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