Around 300 executives and representatives from leading companies from both countries attended the event. Al-Rafique Enterprises, Mehran Dates Products, Brighto Chemicals, Transfopower Industries, FWO, TMC, Pakistan Mobile, TCS, and many others represented the Pakistani business sector.
In his speech, the President of Uzbekistan emphasized that during today’s productive negotiations, issues related to further enhancing multifaceted partnership were thoroughly discussed, with ambitious plans and objectives outlined. An agreement was reached on establishing a Supreme Council of Strategic Partnership.
Trade and economic cooperation was identified as the driving force of bilateral relations.
“With immense potential, our economies can effectively complement each other”, the President noted.
Last year, trade turnover exceeded $400 million, and 130 enterprises are operating. In this context, Uzbekistan has become Pakistan’s largest trading partner in Central Asia.
In recent years, active joint efforts have been undertaken to create favorable conditions for business. Air connectivity with Lahore has been restored, with plans to increase the number of flights and expand the flight geography. Business forums and industrial exhibitions are being held, and trade houses have been established in Karachi and Tashkent.
New projects are being implemented with companies such as Pak Merit, Diamond Group, Silk-way, Getz Pharm, Gerbion, NLS, and others.
The President of Uzbekistan put forward several proposals for further expanding bilateral cooperation.
First and foremost, the importance of holding business events regularly was emphasized, with broad participation from business representatives at least twice a year in Uzbekistan and Pakistan.
Given the geographical proximity of the two countries, the need was noted for a significant increase in trade volumes, including by expanding the range of traded goods under the existing Preferential Trade Agreement, simplifying phytosanitary, quarantine, and customs procedures, and improving interbank settlement mechanisms. Special attention will be given to the integration of electronic trading platforms.
Transport and logistics opportunities are expanding. Over the past few years, the volume of freight transportation between the two countries has increased fivefold. To further enhance cooperation in this sector, plans are made to establish a joint transport and logistics company.
The start of construction of a railway connecting China with Central Asia was noted with satisfaction. This strategic railway could extend to Pakistan’s ports in the future, significantly boosting mutual trade and investment.
The accelerated development of industrial cooperation aligns with the fundamental interests of both countries.
The projects involve the pharmaceutical, agricultural, geological, mining, electrical engineering, textile, leather, and other industries.
The importance of effectively utilizing the potential of interregional cooperation was emphasized. In this context, the need to intensify reciprocal visits by regional leaders with the broad participation of business delegations from both countries was highlighted.
In turn, the Prime Minister of Pakistan, Shehbaz Sharif, highly praised the comprehensive reform program being implemented under the leadership of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, as well as the favorable business conditions that have been created. He stressed that there are great opportunities for strengthening the partnership.
