The current visit of the Minister of State and Chairman Board of Investment (BOI) Saleem H. Mandviwalla to Uzbekistan would help further enhance the trade and economic ties between Pakistan and Uzbekistan. Saleem H. Mandviwalla is currently leading a delegation to Uzbekistan to explore the possibilities of joint collaboration with the major business houses of Uzbekistan.
"The visit is taking place in the context of sideline meeting of Prime Minister Syed Yusuf Raza Gilani with the Prime Minister of Uzbekistan Mirziyocv Shavkat, during the 8th Session of Council of Heads of Governments of Shanghai Co-operation Organisation (SCO), held in Beijing (12-15 October 2009), BOI sources told APP.
They said that during the visit, various possibilities for increasing economic and commercial co-operation were reviewed. The two Prime Ministers, they said, also agreed to optimise utilisation of the existing bilateral channels and arrangements, and set roadmap for further strengthening of bilateral co-operation, especially in the fields of textiles, pharmaceuticals and leather products.
The visit of Chairman, BOI, they said was in line to further strengthening the bilateral relations, leading a delegation of Pakistani businessmen to the textiles, pharmaceuticals and leather sectors. Uzbekistan's economy was estimated at US $71.84 billion and its per capita income at US $2,600 in 2008. Data on trade and investment relations indicates that investment and trade levels have remained rather low. Pakistan has also signed an agreement on Avoidance of Double Taxation and agreement on Promotion and Protection of Bilateral Investment with Uzbekistan. During 2007-08, Pakistan's exports were worth US $2.82 million and imports US $18.21 million, they added.