Saturday, April 20, 2024

Pakistan has adopted a policy to reopen the Silk Route

Pakistan and Uzbekistan signed a historic Transit Trade Agreement, ensuring Pakistan’s access to the $90 billion Central Asian market.

Experts describe the agreement as a win-win situation for all parties involved, including Pakistan, Afghanistan, and Uzbekistan, because Pakistan will gain access to the $90 billion Central Asian market, Afghanistan will profit handsomely from transit fees, and Uzbekistan will gain access to the rest of the world via the deep-sea Gwadar port.

According to Pakistani officials speaking to Gwadar Pro, the Transit Trade Agreement with Uzbekistan can assist deliver more Pakistani goods to Central Asia. Uzbekistan is currently reliant on the Iranian seaport of Bandar Abbas, which is accessible via Turkmenistan. Transit traffic between Uzbekistan and Pakistan will follow pre-determined routes and will only use specific ports and border crossings.

While each nation retains responsibility for regulating transport operators (such as trucking companies) established 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.

The Uzbek and Pakistani governments will work together to speed up and simplify the process of issuing multiple-entry visas to truck drivers. Goods passing through Uzbekistan and Pakistan must be stored in sealed containers that satisfy international standards, with the exception of certain perishable commodities.

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