Pakistan and Uzbekistan are studying the potential for a free trade agreement between the two Asian countries, according to the Uzbek Ministry of Investment, Industry and Trade.
"The conclusion of a preferential trade agreement in 2022 made it possible to increase the Uzbek-Pakistani trade turnover by 40%, in connection with which the parties agreed to jointly explore the possibilities of developing a free trade agreement," the ministry reported on Tuesday.
Uzbekistan's statement came after the country's Minister of Investment, Industry and Trade, Laziz Kudratov, and Pakistan's Minister of Commerce, Gohar Ejaz, met as part of the Organisation of Islamic Cooperation (OIC) Standing Committee on Economic and Commercial Cooperation (COMCEC) meeting in Turkey.
In addition to discussing issues of bilateral cooperation, the two sides also discussed the roadmap for strengthening relations in the fields of banking, agriculture, transport, finance, industry and logistics.
Under the terms of the tripartite agreement, the three neighbouring sovereign states will be linked by an extensive rail network to boost trade between them.