President of Uzbekistan and Prime Minister of Pakistan took part in a joint business forum

President of the Republic of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Islamic Republic of Pakistan Shahbaz Sharif took part in the Uzbek-Pakistani business forum, the press service of the head of our state reports.

The event was attended by about 300 executives and representatives of leading companies of the two countries. Pakistani business was represented by such companies as Al-Rafique Enterprises, Mehran Dates Products, Brighto Chemicals, Transfopower Industries, FWO, T.M.C, Pakistan Mobile, TCS and many others.

In his speech, the head of our state emphasized that during the fruitful negotiations, issues of further expansion of multifaceted partnership were discussed in detail, major plans and tasks were outlined. An agreement was reached on the establishment of the Supreme Council for Strategic Partnership.

Trade and economic cooperation was defined as the locomotive of bilateral relations.

“With enormous potential, our economies can effectively complement each other,” the President noted.

According to the results of last year, the trade turnover exceeded 400 million dollars, 130 enterprises operate. In this context, Uzbekistan has become Pakistan’s largest trading partner in Central Asia.

In recent years, joint measures have been actively implemented to create favorable conditions for business. Air traffic with Lahore has been resumed, there are plans to increase the number of flights and expand the geography of flights. Business forums and industrial exhibitions are held. Trading houses have been created in Karachi and Tashkent.

Uzbek-Pakistani cooperation is filled with new projects. Projects are being implemented with Pak Merit, Diamond Group, Silk-way, Getz Pharm, Gerbion, NLS and others.

The head of our state put forward a number of proposals for further expansion of bilateral cooperation.

First of all, the importance of regularly holding business events with broad participation of business representatives at least 2 times a year – in Uzbekistan and Pakistan – was noted. Given the geographical proximity, the need for a radical increase in trade turnover was noted, including by expanding the range of goods within the framework of the current Preferential Trade Agreement, simplifying phytosanitary, quarantine and customs procedures, and improving interbank settlement mechanisms. Special attention will be paid to the integration of electronic trading platforms.

Opportunities in the field of transport and logistics are expanding. In recent years, the volume of cargo transportation between the countries has increased 5 times. In order to expand cooperation in this area, it is planned to create a joint transport and logistics company.

The start of construction of a railway connecting China with Central Asia was noted with satisfaction. In the future, this strategic road may lead to the ports of Pakistan, which will serve to significantly increase mutual trade and investment.

Accelerated development of industrial cooperation is in the fundamental interests of our countries.

We are talking about projects in the field of pharmaceuticals, agriculture, geology, mining, electrical engineering, textile, leather and other industries.

The need for effective use of the potential of interregional cooperation was noted. In this context, the importance of intensifying mutual visits of heads of regions with the broad participation of business missions of the two countries was noted.

In turn, the Prime Minister of Pakistan Shahbaz Sharif, highly appreciating the large-scale reform program being implemented under the leadership of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, as well as the conditions created for doing business, emphasized the existence of great opportunities for building up partnership.