ISLAMABAD, March 8: Pakistan and Uzbekistan on Thursday agreed to establish joint ventures in pharmaceutical industry, manufacturing of medical equipment and exchange of technology in health sector.

This was decided in the 3rd session of Pakistan-Uzbekistan Joint Ministerial Commission (JMC) held here. The document of understanding was exchanged between the two countries in this regard.

Minister for Water and Power Liaquat Ali Jatoi led the Pakistani side while Uzbek Minister for Agriculture and Water Resources S. Asmailov represented his country.

The meeting was informed that the pharmaceutical industry in Pakistan comprises 409 units, out of which 28 were multi-national companies, while Pakistan was exporting pharmaceutical products to 70 countries.

Pakistan offered export of engineering goods, medical equipment, sports goods, and textile fabrics.

The Uzbek side offered export of cotton fibre, silk, minerals, fertilisers, cables, construction material, agriculture machinery, chemicals and aircraft to Pakistan.

Both sides noted the necessity of initiating the cooperation between the chambers of commerce and industry for the benefit of businessmen of both countries.

Both sides also agreed to exchange trade information on a regular, preferably six months basis, to take suitable measures for enhancement of trade volume between the two countries.

It was also decided in the meeting to exchange information about number of units being privatised by Uzbekistan, so that the Pakistani entrepreneurs could also participate.

Pakistan informed the meeting that the government provides incentives to private sector to invest in the power sector and that Uzbekistan can participate in the development of power sector, particularly coal-based power generating projects. It was also informed that Pakistani companies could provide infrastructure services and consultancy to Uzbekistan if required.

The Pakistan side informed the Uzbek officials that its telephone industry was producing a wide-range of products, which could be exported to Uzbekistan.

Training in the telecom sector was also offered. The Uzbek side took note of the offer for necessary action.—APP