Islamabad:The volume of bilateral trade between Pakistan and Uzbekistan is $ 400 million in last FY 2023, which is less than its potential in different sectors of economy.
Recently, Federal Commerce Minister, Jam Kamal Khan has visited Uzbekistan and addressed the ‘Uzbek-Pakistani Business Forum’ and 9th Intergovernmental Commission meeting on Economic Cooperation between Uzbekistan and Pakistan to promote mutual economic and trade relations between the two countries.
These forums served as a dynamic platform for strengthening bilateral economic partnerships and facilitating business-to-business (B2B) interactions.
The forums witnessed robust participation, with 25 Pakistani companies from diverse sectors engaging in discussions with over 100 representatives from leading Uzbek enterprises.
These B2B meetings spanned a variety of industries, including textiles, food processing, engineering, and logistics, underscoring the shared commitment of both nations to explore collaborative business opportunities.
During the Business Forum, nearly 100 B2B meetings took place, allowing companies from both sides to explore new ventures, discuss potential partnerships, and establish meaningful trade connections.
The sessions aimed to promote investment and mutual growth by leveraging the economic strengths of both countries.
The 9th meeting of the Intergovernmental Commission on Economic Cooperation (IGCEC) between the Republic of Uzbekistan and the Islamic Republic of Pakistan concluded in Tashkent.
The meeting concluded with the signing of the Final Protocol of the Commission meeting and a Memorandum of Understanding (MoU) on cooperation in electronic commerce between Uzbekistan’s Ministry of Investment, Industry, and Trade and Pakistan’s Federal Ministry for Commerce.
Meanwhile addressing the forum, Federal Minister for Commerce, Jam Kamal Khan, highlighted Pakistan’s investment-friendly environment and encouraged Uzbek businesses to consider collaborative projects in Pakistan.
He emphasized that such interactions
pave the way for deepened commercial ties and contribute to regional economic stability.
Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry, and Trade, echoed these sentiments, welcoming Pakistani enterprises and emphasizing the Uzbek government’s commitment to fostering a supportive atmosphere for international partnerships.
He noted that initiatives like the Business Forum play a crucial role in propelling trade and investment forward, creating new opportunities for entrepreneurs. This forum reinforced the outcomes of the Intergovernmental Commission meeting, showcasing a shared vision for robust and sustainable economic engagement.
The comprehensive B2B exchanges demonstrated a practical approach to strengthening commercial bonds and set the stage for future cooperative projects.
The 9th Commission meeting and Business Forum underscored the shared vision of Uzbekistan and Pakistan for sustainable economic progress, setting the stage for a stronger, more connected regional future.