TASHKENT, Uzbekistan, November 4. The Ministry of Investment, Industry, and Trade of Uzbekistan and the Federal Ministry for Commerce of Pakistan signed a memorandum of understanding on cooperation in electronic commerce, TurkicWorld reports.
The document was signed at a 9th meeting of the Intergovernmental Commission on Economic Cooperation between Uzbekistan and Pakistan.
The sides also signed the Final Protocol of the Commission meeting.
Both countries discussed the current status and future prospects for enhancing cooperation in trade, investment, industrial collaboration, transport, and logistics, emphasizing the execution of agreements made during high-level visits.
After thoroughly reviewing the implementation stages of joint investment projects and trade agreements, the parties identified specific measures to further enhance these indicators, including increasing the effectiveness of the Preferential Trade Agreement, organizing exhibitions of national products, and opening trade houses of the two countries on a joint basis, as well as broadening access for entrepreneurs on the electronic trading platforms of both countries.
As part of their investment cooperation, a joint "Program for Industrial Cooperation 2025-2026" will be developed, alongside large-scale collaborative projects in agriculture, food processing, IT, chemicals, textiles, and machinery. The parties agreed on several initiatives to improve transport connectivity and facilitate the movement of goods between the two nations.
Over the past five years, mutual trade volume has tripled, and in 2024, the trade volume has increased by an additional 10 percent, surpassing $300 million. The number of joint ventures has also tripled during this period, reaching 128, while road freight transport has grown nearly 6.5 times, totaling 354,000 tons in 2023.
