ISLAMABAD, May 20: Uzbek Ambassador Aybek Arif Usmanov has said that the possibility of signing a Free Trade Agreement (FTA) between Pakistan and Uzbekistan cannot be ruled out.
A Preferential Trade Agreement (PTA) has been signed for the promotion of bilateral liberal trade between the two countries, which has a great potential to increase bilateral trade in the future, Ambassador Usmanov told the state-run news agency on Friday.
The ambassador said that a bilateral PTA and Transit Trade Agreement had been signed between Pakistan and Uzbekistan which also facilitated the movement of land trade between the two countries including trucks. He said that the Free Trade Agreement (FTA) in Pakistan and Uzbekistan could play a better role in promoting bilateral trade if there was a similar trilateral agreement in Afghanistan, Pakistan and Uzbekistan. He said that after signing such an agreement, economic integration in Central Asia and South Asian countries would increase and regional trade also would increase. He said that regional trade is needed at this time and in regional trade we have the best examples of the European Union (EU) and Association of SouthEast Asian Nations (ASEAN) where regional trade and economic connectivity is the best example.
Replying to a question he said that promotion of trade and trade connectivity between Pakistan and Uzbekistan and other Central Asian States is essential for regional trade. Thus, according to the government policy of the Uzbek government, region to region trade will also be promoted, which will bring the countries of the region into a common trade and economic power. – PR