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Pakistan signs $50 Million deals with Uzbekistan at Business Forum: Senate informed

Abdul Razak Dawood, the Prime Minister’s Adviser on Commerce and Investment, told the Upper House on Wednesday that a Pak-Uzbekistan Business Forum was held in Tashkent in July this year to promote bilateral trade.

At a Q&A session, he stated that over 2,000 business meetings were held during the forum, which resulted in the signing of nearly $50 million in agreements and deals, as well as 14 other Memorandums of Understanding.

In addition to the business forum, Abdul Razak said the two countries inked the Uzbekistan-Pakistan Transit Trade Agreement (AUPTT) on July 15 this year. He described the key aspects of AUPTT as follows: transit trade between Uzbekistan and Pakistan will take place via pre-determined routes, with only specific ports and border crossings being used.

Uzbekistan and Pakistan, according to the advice, are expected to provide appropriate infrastructure and people at border crossings, as well as separate sites for off-dock terminals and warehousing at entry/exit ports and other customs-notified locations on a reciprocal basis.

While each country was responsible for regulating transport operators such as trucking companies registered on its soil, Uzbekistan and Pakistan would issue Road Transport Permits that would allow convey operators to transport products via the territory of the other country. He noted that Uzbek vehicles could transport products to sea ports via Pakistan rather than needing to reload them onto Pakistani trucks at the Afghanistan-Pakistan border.

He stated that the Uzbek government would recognize Pakistani driver’s licenses and vehicle registration paperwork, and that the Uzbek and Pakistani governments would speed up and simplify the procedure of issuing multiple-entry visas to truck drivers from both nations.

The adviser stated that, with the exception of perishable products, cargo travelling via Uzbekistan and Pakistan would be stored in sealed containers that met international standards.

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