Pakistan and Uzbekistan agree to bolster bilateral trade and increase direct flights for enhanced regional connectivity

Pakistani Ministry of Commerce and the Trade Development Authority of Pakistan organized the Pakistan-Uzbekistan Logistics Forum on June 29, 2024, in Tashkent, where officials agreed to set up a joint chamber of commerce and enhance direct flights.

This agreement aims to strengthen Pakistan’s role as a pivotal trade and transit hub connecting the landlocked Central Asian republics with the rest of the world. The forum, along with the successful ‘Made in Pakistan’ Exhibition from June 28-30, featured nearly 2000 B2B (business-to-business) meetings and highlighted significant investment opportunities, including an MOU worth US$40 million signed between Pakistan’s Fateh Group and the Bukhara Government.

Officials from both countries at the logistics forum “agreed to enhance bilateral trade, improve connectivity (including direct flight operations), and establish a Joint Chamber with Pakistan,” state-run APP reported.

This forum is part of Pakistan’s broader strategy to position itself as a crucial trade and transit hub, connecting the landlocked Central Asian republics with the global market. In recent weeks, there has been a surge in visits, investment discussions, and economic activities between Pakistan and Central Asian states, with Prime Minister Shehbaz Sharif recently chairing a special meeting to strengthen regional economic and investment ties.

Pakistan-Uzbekistan Logistics Forum

The Pakistani Ministry of Commerce and the Trade Development Authority of Pakistan (TDAP) organized the Pakistan-Uzbekistan Logistics Forum on Saturday (June 29, 2024) in Tashkent, where officials agreed to establish a joint chamber of commerce and enhance direct flights between the two nations.

The key speakers at the forum included Omarov Mamanbiy, First Deputy Minister of Transport for the Republic of Uzbekistan, and Rakhmatov Khitmatullah, Deputy Chairman of Uzbek Railways. Prominent representatives from both the Uzbek and Pakistani government and private sectors also participated.

The forum facilitated over 300 B2B meetings between 14 Pakistani companies and more than 50 Uzbek companies from the logistics and transport sectors, according to the commerce ministry statement. Participants praised the initiative and expressed hope for similar future events to further fortify bilateral trade relations.

On the sidelines, the Chief Executive of TDAP, Zubair Motiwala, met with the Deputy Chairman of the Uzbekistan Chamber of Commerce & Industry to discuss bilateral trade enhancement, improved connectivity, including direct flights, and the establishment of a joint chamber of commerce. The discussions also addressed visa issues for the business community and sector-specific barriers, aiming to bolster trade and economic cooperation between Pakistan and Uzbekistan, as well as the wider Central Asian region.

‘Made in Pakistan’ Exhibition in Tashkent

The ‘Made in Pakistan’ Exhibition, held from June 28-30, 2024, at the Uz Expo Centre in Tashkent, was hailed as a significant success by the business communities of both Pakistan and Uzbekistan. The event facilitated several B2B meetings, highlighted by a $40 million MOU signed between a Pakistani company Fateh Group and the Bukhara Government.

The exhibition was inaugurated by Gulamov Shokhrukh Khasanovich, Deputy Minister of Industry, Investment, and Trade of Uzbekistan, along with Pakistani officials including Ambassador Ahmed Farooq, Federal Secretary of Commerce Ahsan Ali Mangi, and TDAP Chief Executive Zubair Motiwala.

Key discussions took place between the Head of International Investment and Export at the Uzbekistan Textiles Industry Association (Uztexprom) and the Chief Executive of the Trade Development Authority of Pakistan (TDAP), along with Pakistani textile exhibitors. Both sides explored joint ventures, emphasizing the niche of Pakistani finished textiles and addressing tariff issues and banking channel streamlining. The event’s G2G interactions have laid the groundwork for stronger trade and economic ties between Pakistan and Uzbekistan and the broader Central Asian region.

Over 80 Pakistani companies showcased their products, leading to approximately 750 B2B meetings with local businesses. Visitors expressed keen interest in the diverse range and quality of Pakistani products.

Government representatives from both countries held fruitful discussions to promote trade and closer economic ties. The events underscored the commitment of Pakistan and Uzbekistan to enhancing their economic partnership and fostering regional connectivity.

Sana Jamalhttps://about.me/sanajamal
Storyteller. Avid Reader. Learner to the core.

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