President Shavkat Mirziyoyev and Prime Minister Shahbaz Sharif participated in the Uzbekistan-Pakistan business forum.
About 300 leaders and representatives of leading companies from both countries attended the event. Companies such as "Al-Rafique Enterprises," "Mehran Dates Products," "Brighto Chemicals," "Transfopower Industries," "FWO," "T.M.C," "Pakistan Mobile," "TCS," and many others participated from Pakistan.
The head of state emphasized in his speech that the multifaceted partnership was thoroughly discussed in the productive negotiations held today, and significant plans and tasks were set. It was agreed to establish a high-level strategic partnership council.
Trade and economic cooperation was defined as the "locomotive" of bilateral relations.
- Our economies, which have enormous potential, are capable of complementing each other, - said Mirziyoyev.
According to last year's results, the trade turnover exceeded 400 million dollars, and 130 joint ventures are operating. In this regard, Uzbekistan has become Pakistan's largest trading partner in Central Asia.
In recent years, measures to create favorable conditions for business have been actively implemented. Air connections with Lahore have been restored, and there are plans to increase the number of flights and expand the geography of flights. Business forums and industrial exhibitions are being held. Trade houses have been established in Karachi and Tashkent.
Uzbekistan-Pakistan cooperation is being enriched with new projects. Projects are being implemented with companies such as "Pak Merit," "Diamond Group," "Silk-way," "Getz Pharm," "Gerbion," "NLS," and others.
The head of state proposed a number of initiatives to further expand bilateral cooperation. First of all, it was emphasized that it is important to regularly hold business events in Uzbekistan and Pakistan, attracting business representatives at least twice a year.
Taking into account the geographical proximity, it was pointed out that it is necessary to sharply increase the volume of trade, including expanding the nomenclature of goods within the framework of the existing Preferential Trade Agreement, simplifying phytosanitary, quarantine, and customs procedures, and improving interbank settlement mechanisms. Special attention will be paid to integrating electronic trade platforms.
Transport and logistics capabilities are expanding. In recent years, the volume of cargo transportation between the countries has increased fivefold. To expand cooperation in this area, it is planned to establish a joint transport and logistics company.
The commencement of railway construction connecting China with Central Asia was noted with satisfaction. In the future, this strategic route may lead to Pakistani ports, which will significantly enhance mutual trade and investments.
Rapid development of industrial cooperation aligns with the fundamental interests of the countries. Projects in the fields of pharmaceuticals, agriculture, geology, mining, electrical engineering, textiles, leather industry, and others are among them.
The need to effectively utilize the potential of interregional cooperation was emphasized. In this regard, it was noted that it is important to activate mutual visits of regional leaders, involving the business circles of both countries.
Prime Minister Shahbaz Sharif, for his part, highly appreciated the large-scale reform program being implemented under the leadership of Shavkat Mirziyoyev, as well as the conditions created for doing business, emphasizing that there are great opportunities for expanding partnership.
