KARACHI, Jan 03 :The Ambassador of the Republic of Uzbekistan, Alisher Tukhtaev, highlighting the progress in bilateral trade with Pakistan, Friday stated that the Uzbek Embassy is aiming to increase bilateral trade to US$1 billion in the coming years as per leadership level agreement of both countries.
Bilateral trade has been progressing well, with mutual trade between Uzbekistan and Pakistan increasing from US$122 million in 2019 to US$387 million in 2023, he added speaking at a meeting at Karachi Chamber of Commerce and Industry (KCCI).
Economic and Trade Counsellor Bakhrom Yusupov, KCCI President Muhammad Jawed Bilwani, SVP Zia ul Arfeen, VP Faisal Khalil Ahmed, Former KCCI Presidents Majyd Aziz and Junaid Esmail Makda, along with the Managing Committee Members, were present at the meeting, said a statement issued here.
Referring to the recent commencement of direct flights between Tashkent and Lahore, the Uzbek Ambassador hinted launch of direct flights from Karachi to Uzbekistan this year and mentioned soft visa regime for Pakistani citizens, for both business and tourist visas, making it easier for people to visit each other and build stronger connections.
Noting the long history of brotherly relations, strengthened by cultural and religious affinities as well as continuous growth in strong ties of Uzbekistan and Pakistan he said , “Today, our two countries are closer than ever, thanks to the realization of the vision of regional connectivity between our countries.” He added that tireless efforts of both countries to enhance economic cooperation and strategic collaborations have reinforced the vision.
He highlighted the investment opportunities in Uzbekistan, which offers a safe, conducive, and liberal environment for investment and invited Pakistani businessmen to explore opportunities in sectors such as textiles, pharmaceuticals, leather, tannery, food processing, agro-businesses.
Extending his support for promoting B2B connectivity for exploring and materializing trade and investment opportunities he asked KCCI to send a business delegation to Uzbekistan for exploring investment opportunities in key Uzbek regions.
Earlier, while welcoming the Uzbek Ambassador, KCCI President Jawed Bilwani stated that Pakistan and Uzbekistan share deep-rooted religious, historical, and cultural ties, and both countries are keen to further deepen and strengthen these bonds by exploring new horizons for mutual prosperity and connectivity.
He emphasized on diversification of trade to enhance bilateral exports and promote economic cooperation and said that both the significant cotton growing countries can pursue collaboration in Research & Development to develop high-yield and disease-resistant cotton varieties, improve cotton processing into quality yarn and fabric and thereby promoting sustainable cotton production.
He also encouraged Uzbek investors to collaborate in agriculture by setting up food processing units, storage facilities, and advancing the livestock sector. Joint ventures in high-yield farming and agro-food trade in wheat, rice, oil seeds, frozen foods, dates, figs, pineapples, potatoes, vegetables, and bovine animals could boost bilateral agro-food trade, he added.
Bilwani highlighted potential to enter into joint ventures in transportation, logistics, IT, textiles, leather, sports, housing and construction, and dairy and livestock sectors and suggested cultural exchange programs and scholarships as well as language programs and joint research initiatives for reinforcing mutual understanding brotherly ties between people of Uzbekistan and Pakistani.
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