Pakistan, Uzbekistan agree to boost bilateral trade to $2bn

Pakistan and Uzbekistan agreed on Wednesday to expand bilateral trade to $2 billion.

Addressing a joint press conference along with Prime Minister Shehbaz Sharif, Uzbekistan President Shavkat Mirziyoyev said that during their meeting, both leaders came to the conclusions on different spheres and mutual trade turnover had exceeded 400 million and “we have plans to increase that to $2 billion.”

“The modern state of Pakistan is our trusted partner, trusted by time, and a promising ally whose international reputation is steadily growing.

Despite current global challenges, the honourable prime minister is carrying out tremendous work to ensure peace and stability, improve the living standards of the population and accelerate economic growth.“

Earlier, Prime Minister Shehbaz was welcomed with a guard of honour at the Tashkent Congress Centre in Uzbekistan’s capital.

He was welcomed by Uzbekistan President today at the Tashkent Congress Centre, with the national anthems of Pakistan and Uzbekistan played.

Following the PM’s arrival, both leaders held a bilateral meeting.

Discussions focused on enhancing cooperation in regional connectivity, trade, investment, energy, defense, security, regional stability, and education.

Pakistan, Uzbekistan sign MoUs

Pakistan and Uzbekistan also signed several Memorandums of Understanding and agreements to further bolster cooperation between the two countries in diverse sectors.

The MoUs and agreements included, MoU between Tashkent and Lahore, cooperation agreement between news agencies, inter-agency agreement on Youth Affairs, agreement on cooperation in the field of science technology and innovation.

The two countries also signed agreements in the fields of visa-free travel of diplomatic passport holders, military intelligence, internal affairs, professional and technical training and training of diplomats, as per Radio Pakistan.

Prime minister Shehbaz arrived in Uzbekistan on Tuesday for talks on trade, energy and defense ties as part of an economic diplomacy push to enhance investment with landlocked Central Asia.

Accompanying the Prime Minister on this visit are Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Investment and Privatization Abdul Aleem Khan, Minister for Information and Broadcasting Attaullah Tarar, and Special Assistant Tariq Fatemi.

The prime minister was warmly welcomed by his Uzbek counterpart Abdulla Aripov, Foreign Minister Bakhtiyor Saidov, Tashkent Mayor Shavkat Umurzakov, Uzbekistan’s Ambassador to Pakistan, Alisher Takhthaev, and Pakistan’s Ambassador to Uzbekistan, Ahmed Farooq, along with senior diplomatic and government officials upon his arrival at Tashkent International Airport.

His trip to Tashkent follows a two-day visit to Baku during which Pakistan and Azerbaijan signed multiple agreements to enhance cooperation in the trade, energy, tourism and education sectors.

Pakistan is seeking to leverage its strategic position as a key trade and transit hub to connect the landlocked Central Asian republics to the global market.

Since last year, there has been a surge in visits, investment talks and other economic activity between Pakistan and the Central Asia states.