Uzbekistan aims to enhance trade to $1b

Envoy highlights trade growth prospects, efforts to start direct flights from Karachi

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KARACHI:

Highlighting the progress in trade between Uzbekistan and Pakistan, the ambassador of Uzbekistan stated that as agreed by the leaders of both countries, the Uzbek embassy was aiming to increase bilateral trade to $1 billion in the coming years.

During a meeting at the Karachi Chamber of Commerce and Industry (KCCI), Ambassador Alisher Tukhtaev said bilateral trade had been progressing well as it increased from $122 million in 2019 to $387 million in 2023.

Referring to the recent commencement of direct flights between Tashkent and Lahore, which was another significant step in facilitating closer ties, the envoy said efforts were also underway to introduce direct flights from Karachi to Uzbekistan.

"We encourage our Pakistani brothers and sisters to visit Uzbekistan and experience the warm hospitality of our people," he said while mentioning that Uzbekistan and Pakistan shared a long history of brotherly relations, strengthened by cultural and religious affinities.

"Strong ties between us continue to grow, and today, they are closer than ever, thanks to the realisation of our vision of regional connectivity," he remarked.

This vision has been reinforced due to the efforts of both countries to enhance economic cooperation and strategic collaboration. The ambassador said that since September 2024, Uzbekistan had implemented a soft visa regime for Pakistani citizens, which included both business and tourist visas, making it easier for people to visit and build stronger linkages.

"While we have made great strides in trade, there still remains significant potential for further cooperation in investment," he stressed while highlighting the investment opportunities in Uzbekistan, which offered a safe, conducive, and liberal environment.

He invited Pakistani businessmen to explore opportunities in sectors such as textiles, pharmaceuticals, leather, tannery, food processing, agro-businesses, and others.

"I also welcome the idea of organising business-to-business (B2B) meetings on the sidelines of business delegations' visits to explore and capitalise on trade and investment opportunities."