Introduction
Pakistan and Uzbekistan have taken a significant step toward strengthening economic ties by announcing plans to increase their bilateral trade to $2 billion. This decision emerged from Prime Minister Shehbaz Sharif’s meeting with Uzbek President Shavkat Mirziyoyev in Tashkent on Wednesday.
Their announcement follows a similar move by Pakistan to boost investments with Azerbaijan to $2bn, highlighting the government’s broader strategy to expand regional cooperation and trade. https://economictimes.indiatimes.com/news/defence/pakistan-uzbekistan-agree-to-increase-bilateral-trade-to-usd-2-billion/articleshow/118579917.cms?from=mdr
Key Takeaways from the Joint Pakistan-Uzbekistan Press Conference
1. Target Expansion for $2B Trade
President Mirziyoyev revealed that current trade volumes between the two countries have already crossed $400 million with an ambitious plan to reach $2 billion in the near future. He emphasized the importance of developing “a new direction” in their partnership and described their talks as “very fruitful.”
2. Collaborative Efforts and Joint Ventures between Pakistan-Uzbekistan
- 130 Joint Ventures: Uzbekistan and Pakistan have established 130 joint ventures, indicating an interest from both sides in shared business opportunities.
- Trade Houses: Newly opened trade houses in Karachi and Tashkent aim easier import-export processes and bolster commercial relationships.
3. Enhanced Connectivity and Air Routes
President Mirziyoyev highlighted the launch of direct flights between Tashkent and Lahore, with additional routes planned for Samarkand, Bukhara, and Karachi. This development is expected to boost tourism, business travel, and cultural exchange.
4. Government-Level Engagement
- Intergovernmental Commission: A robust intergovernmental commission is already in place to oversee collaborative projects.
- Strategic Council: The two leaders agreed to establish a high-level strategic council, ensuring regular communication and effective implementation of mutual directives.
Target on Economic and Social Development
President Mirziyoyev praised Prime Minister Shehbaz Sharif for his efforts to ensure peace and economic growth in Pakistan. He also congratulated the Pakistani government on its ongoing initiatives, noting the “dynamic” relationship between the two nations.
Pakistan’s Perspective
Prime Minister Shehbaz Sharif underlined the potential for cooperation in mining and minerals. Along with the idea of attracting investments in each other’s special economic zones. He also expressed enthusiasm for expanding tourism, encouraging citizens from both countries to visit. Especially, cultural landmarks in Peshawar, Quetta, Karachi, Lahore, Samarkand, and Bukhara.
Trans-Afghan Railway Project: A Game Changer
A key topic of discussion was the Trans-Afghan railway project, which promises to connect Uzbekistan, Afghanistan, and Pakistan. Both leaders view this railway corridor as a step toward regional connectivity. Moreover, potentially revolutionizing trade routes and reducing transit times. They also announced a separate committee led by both heads of state to address any challenges and accelerate project completion.
Looking Ahead
- Regulatory and Policy Support
Both sides agreed to streamline customs procedures, reduce bureaucratic hurdles, and offer incentives for businesses and investors. - Cultural Exchanges and People-to-People Ties
Emphasizing cultural programs and festivals, the leaders aim to deepen mutual understanding and strengthen diplomatic relations. - Support on International Issues
President Mirziyoyev expressed diplomatic support for Pakistan’s stance on regional and global matters, including the situation in Afghanistan and the Palestinian issue.
Conclusion to the $2b Trade
The pledge to expand bilateral trade to $2 billion underscores the commitment of Pakistan and Uzbekistan to deepen economic cooperation and regional connectivity. Through improved air links, a high-level strategic council, and the ambitious Trans-Afghan railway project. Both nations are poised to unlock new avenues for trade, investment, and cultural exchange.
As they continue to build upon these shared objectives, the partnership between Pakistan and Uzbekistan stands to serve as a model of collaboration and progress in Central and South Asia.
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