On Monday, agreements to increase bilateral trade and increase investment to $1 billion were finalized by Pakistan and Uzbekistan.

On Monday, agreements to increase bilateral trade and increase investment to $1 billion were finalized by Pakistan and Uzbekistan.

Nine Memoranda of Understanding (MoUs) were signed in this regard by Commerce Minister Naveed Qamar and Uzbek Deputy Prime Minister Khodjave Jamshid Abdukhakimovich.

Qamar informed the media at the time that the two nations had made the decision to implement the Preferential Trade Agreement on February 1, 2023.

The commerce ministry said in a press release that followed that the two countries also talked about how to put the Agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT) into action, and that Uzbekistan would announce rules in this regard in February. They also decided to go to the Afghan capital together in the last week of January to talk about the problems that Pakistani and Uzbek transporters are having.

"Both parties agreed to develop a coordinated plan for transit trade through Afghanistan. Preparation of a regional understanding of the Transit and Trade Framework, including a joint mechanism or fund for Afghanistan's road infrastructure maintenance.

According to the statement, Uzbekistan requested an off-dock terminal at the Karachi and Gwadar ports and received full facilitation.

In addition, the nations decided to organize trade shows and develop a plan for e-commerce cooperation. During its visit, the Uzbek delegation will meet a number of officials, including Prime Minister Shehbaz Sharif.

Shavkat Mirziyoyev, the president of Uzbekistan, had traveled to Pakistan earlier this year. Several agreements and memorandums of understanding were signed during his visit. In order to promote religious tourism, the ministries of tourism and sport in Uzbekistan and Pakistan signed a memorandum of understanding. In the area of the environment and climate change, the two states signed a second memorandum of understanding.

At regional and international forums, particularly the United Nations, Organization of Islamic Cooperation, Economic Cooperation Organization, and Shanghai Cooperation Organization, Pakistan and Uzbekistan have worked closely together.