Ministry of Economic Affairs has said that an agreement worth $1 billion was struck on Friday to boost commerce between Pakistan and Uzbekistan.
The agreement was finalized at the 8th meeting of the Pakistan-Uzbekistan Intergovernmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) in Tashkent.
According to the announcement from the ministry, both nations inked an agreement to promote trade in products and services.
It stated, “Today in Tashkent was the 8th meeting of Pak-Uzbek Inter-Governmental Committee on Trade-Economic and Scientific-Technical Cooperation.”
The two nations inked a $1 billion trade deal to promote the flow of products and services.
It would be significantly beneficial for Pakistan, which is experiencing a balance of payments crisis and has foreign reserves that can only cover three weeks of imports.
The ministry noted that Finance Minister Ishaq Dar was in charge of the mission negotiating the trade pacts, which included cooperation in commerce, banking, industries, energy, and agriculture.