Ambassador of the Republic of Uzbekistan, Alisher Tukhtaev, while highlighting the progress in bilateral trade between Uzbekistan and Pakistan, stated that, as agreed by the leaders of both countries, the Uzbek Embassy is aiming to increase bilateral trade to US$1 billion in the coming years. During a meeting at the Karachi Chamber of Commerce and Industry (KCCI), the Ambassador added that 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.
Economic & Trade Counsellor Bakhrom Yusupov, KCCI President Muhammad Jawed Bilwani, Senior Vice President Zia ul Arfeen, Vice President Faisal Khalil Ahmed, Former Presidents of KCCI Majyd Aziz and Junaid Esmail Makda, along with KCCI Managing Committee Members, were also present at the meeting.
Referring to the recent commencement of direct flights between Tashkent and Lahore, which is another significant step in facilitating closer ties between the two countries, the Uzbek Ambassador informed that efforts are underway this year to introduce direct flights from Karachi to Uzbekistan as well. “We encourage our Pakistani brothers and sisters to visit Uzbekistan and experience the warm hospitality of our people,” he said.
He noted that Uzbekistan and Pakistan share a long history of brotherly relations, strengthened by cultural and religious affinities. “The strong ties between our two countries continue to grow, and today, our two countries are closer than ever, thanks to the realization of the vision of regional connectivity between our countries,” he said, adding that this vision has been reinforced due to the tireless efforts of both countries to enhance economic cooperation and strategic collaborations.
The Ambassador further stated that starting in September 2024, Uzbekistan implemented a soft visa regime for Pakistani citizens, which includes both business and tourist visas, making it easier for people to visit each other and build stronger connections.
“There is immense potential for trade and investment between our two countries. While we have made great strides in trade, there still remains significant potential for further cooperation in investment,” he stressed while highlighting the investment opportunities in Uzbekistan, which offers a safe, conducive, and liberal environment for investment.
He invited Pakistani businessmen to explore opportunities in sectors such as textiles, pharmaceuticals, leather, tannery, food processing, agro-businesses, and other sectors. “I also welcome the idea of organizing B2B meetings on the sidelines of business delegations’ visits between our two countries to explore and materialize trade and investment opportunities.”
He specifically asked KCCI to send a business delegation to Uzbekistan to further strengthen cooperation by exploring investment opportunities in key regions of Uzbekistan. “At the Uzbek Embassy, we are ready to facilitate G2B (Government-to-Business) and B2B (Business-to-Business) meetings to ensure that the trade and investment potential is fully utilized. I look forward to working together with KCCI to enhance ties between our two nations.”
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 that despite their friendly relationship, the volume of trade is still below its true potential. Therefore, Pakistan and Uzbekistan need to diversify trade to enhance bilateral exports and promote economic cooperation. “Uzbekistan, as the largest cotton producer in Central Asia, and Pakistan, the 5th largest producer, can pursue collaboration in Research & Development to develop high-yield varieties, improve cotton processing into quality yarn and fabric, and create disease-resistant cotton varieties, thereby promoting sustainable cotton production in both countries.”
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, oilseeds, frozen foods, dates, figs, pineapples, potatoes, vegetables, and bovine animals could boost bilateral agro-food trade, he added.
Bilwani concluded that both countries have great potential to enter into joint ventures in transportation, logistics, IT, textiles, leather, sports, housing & construction, and dairy and livestock sectors. “Cultural exchange programs and scholarships may further deepen mutual understanding among students studying in each other’s countries.
Additionally, language programs and joint research initiatives can also strengthen academic ties between Uzbek and Pakistani educational institutions.”
