President Asif Ali Zardari confers Nishan-e-Pakistan on Uzbekistan President Shavkat Mirziyoyev during a special inauguration ceremony at Aiwan-e-Sadr as Prime Minister Shehbaz Sharif looks on. Photo: PPI
ISLAMABAD:
Prime Minister Shehbaz Sharif on Friday invited Uzbek business companies to explore investment opportunities in Pakistan’s textile, pharmaceutical, mining, agriculture and tourism sectors, while private sector entities of both countries signed memorandums of understanding worth $3.4 billion for B2B cooperation.
The prime minister, addressing the Pakistan-Uzbekistan Business Forum held here along with Uzbek President Shavkat Mirziyoyev, who is here on a two-day state visit, said both sides had signed a protocol on Friday to achieve an “ambitious but easily achievable” goal of increasing bilateral trade to $2 billion in five years.
At the forum attended by ministers and businessmen from both sides, the two leaders assured investors that they would provide a conducive business environment without room for systemic obstacles.
Both leaders welcomed the B2B agreements with the Uzbek president, calling them “very feasible” because both sides already had a very good program drawn up and established.
“I am here, of course, as Prime Minister of Pakistan, but for this forum as Director General of Pakistan. I am just a call away. My colleagues are just a call away. We will remove any bottlenecks or impediments along the way.
And I want to assure you that bureaucracy and red tape will not create any obstacles in your trade proposals,” PM Shehbaz pledged.
The prime minister said 30 redundant textile plants in Uzbekistan could provide a win-win opportunity for investors from both sides and expressed hope that PIA’s flights to Uzbekistan would boost people-to-people contact.
In his speech, President Mirziyoyev said that the business forum reflects long-standing shared intentions and deep mutual understanding.
Calling the business community a “true bridge” between two nations, he said that through the $2 billion trade protocol, both sides had committed to zero corruption, bottlenecks and obstacles.
He said Uzbekistan needed Pakistan’s expertise and high quality in the pharmaceutical sector, affordable medicines and offered tax exemptions for 10 years, support and all enabling conditions.
He told the meeting that Uzbekistan had around 30 high-tech textile companies waiting for Pakistani management and expertise to access global markets, and also expressed his country’s keen interest in collaborations in leather goods.
He invited Pakistani businessmen to visit Uzbekistan to study opportunities, develop plans and start operations, ensuring all necessary support.
Later, the two leaders also witnessed the exchange of pre-signed MoU documents between business entities of both parties.
Strategic partnership
Pakistan and Uzbekistan on Wednesday reaffirmed their commitment to elevate bilateral relations to a qualitatively new level as President of the Republic of Uzbekistan Shavkat Mirziyoyev concluded a two-day state visit to Pakistan, marked by extensive agreements on trade, connectivity, culture, security and regional cooperation.
In a joint statement issued at the conclusion of the visit, both sides underlined their determination to strengthen cooperation in support of each other’s sovereignty, independence and territorial integrity, while promoting sustainable development aligned with long-term national interests.
“Pakistan and Uzbekistan are united by deep historical, cultural and spiritual affinities. Our partnership is based on trust and shared aspirations for peace and prosperity in the region,” Prime Minister Shehbaz Sharif said during the talks.
Regarding economic cooperation, both sides reiterated their determination to achieve the ambitious bilateral trade goal of $2 billion by 2029, recalling that Uzbekistan was the first Central Asian country to sign both a Transit Trade Agreement and a Preferential Trade Agreement with Pakistan.
The leaders welcomed progress on the expansion of the Preferential Trade Agreement, the signing of a Bilateral Investment Treaty and efforts to align sanitary and phytosanitary measures and mutually recognize standards. They also agreed to promote joint ventures in pharmaceuticals, textiles, leather, agriculture, minerals and engineering products, along with greater cooperation in e-commerce.
Connectivity featured prominently in the discussions. Both sides welcomed the signing of the Framework Agreement for the Uzbekistan-Afghanistan-Pakistan (UAP) Railway Project and unanimously approved the Termiz-Kharlachi route. They reaffirmed the commitment to conclude the project soon, recognizing its importance for regional integration and economic development.
Pakistan reiterated its readiness to provide Uzbekistan with access to its seaports and road network of international standard for transit trade, while both sides committed to early operationalization of the Multimodal Transport MoU.
In the cultural sphere, Pakistan and Uzbekistan reaffirmed their shared civilizational heritage rooted in the legacy of the Silk Road. The leaders welcomed the signing of an agreement on the preservation and promotion of Baburid heritage and pledged to expand cooperation through cultural festivals, academic exchanges and heritage conservation.
MoU to fight corruption
The Anti-Corruption Agency of the Republic of Uzbekistan (ACAU) and the National Accountability Bureau of the Islamic Republic of Pakistan signed a memorandum of understanding (MoU) to strengthen mutual cooperation in the fight against corruption.
Nishan-e-Pakistan
President Asif Ali Zardari on Friday conferred Nishan-e-Pakistan, the highest civilian award, on President of Uzbekistan Shavkat Mirziyoyev in recognition of his contribution in strengthening relations between Pakistan and Uzbekistan.
The Special Investiture Ceremony was held at Aiwan-e-Sadr and was attended by, among others, Prime Minister Muhammad Shehbaz Sharif, members of the federal cabinet, Chief of the Air Staff, Air Chief Marshal Zaheer Ahmed Baber Sidhu, members of the diplomatic corps and parliamentarians, and was followed by a state banquet organized in honor of the visiting President.
