PTA with Uzbekistan takes effect.

ISLAMABAD -- The Ministry of Commerce on Monday notified rules of origin for implementation of the Preferential Trade Agreement (PTA) signed with Uzbekistan.

The rules, issued through SRO289, will cover only those products of exports and imports between the two countries identified for concessions under PTA.

Both countries have already identified items for concessions on tariffs and it is estimated that bilateral trade will reach $1 billion. The lists were finalised after consultations with all stakeholders.

According to a Trade Development Authority of Pakistan (TDAP) report, Uzbekistan can be a lucrative potential market for Pakistan to export pharmaceutical, agricultural, and textile products. Uzbekistan has great demand for portland cement, flat rolled iron products and parts of tractors and machinery.

Pakistan can import cotton yarn at cheaper rates from Uzbekistan.

According to the notification, the products will avail concessions only in...