PM Shehbaz invites Uzbek investors as pacts worth $3.4b signed during President Mirziyoyev’s visit
Prime Minister Muhammad Shehbaz Sharif and Uzbek President Shavkat Mirziyoyev look on as memoranda of understanding are exchanged between Pakistani and Uzbek businesses. Photo: X
Prime Minister Shehbaz Sharif on Friday invited Uzbek business firms to explore investment opportunities in Pakistan's textile, pharmaceutical and other sectors as private-sector entities from both countries signed memoranda of understanding worth $3.4 billion for business-to-business cooperation with Uzbekistan President Shavkat Mirziyoyev wrapping up his two-day state visit.
While addressing the Pakistan–Uzbekistan Business Forum in Islamabad alongside President Mirziyoyev, the prime minister said both sides had also signed a protocol aimed at achieving an “ambitious yet easily achievable” target of increasing bilateral trade to $2b within five years.
The forum was attended by ministers and business leaders from both countries. The two leaders assured investors of a conducive business environment and pledged that systemic hurdles would not be allowed to impede investment.
Read More: Pakistan, Uzbekistan sign pact to boost trade to $2b within next five years
Welcoming the B2B deals, the leaders termed the targets “very much achievable”, noting that both sides already had a well-drafted and established programme in place.
“I am here, of course, as prime minister of Pakistan, but for this forum as the CEO of Pakistan. I am just a telephone call away. My colleagues are just a telephone call away. We will remove any bottleneck or impediment on the way. And I would like to assure you that bureaucracy and red tapism will not create any kind of hurdle in your business proposals,” PM Shehbaz said.
“I hope that B2B MOUs worth $3.4 billion are going to be materialized, which is a great achievement. I want to assure you that I am just a telephone call away, and we will remove any bottleneck or impediment on the way. Bureaucracy will not create any kind of hurdle in your… pic.twitter.com/h2fL6ZTkfU
Referring to the signing of the $2b trade protocol, he said Pakistan-Uzbekistan relations would now be measured through trade flows, investment projects, industrial partnerships and people-to-people exchanges.
He said the two countries would establish a working group to develop a five-year roadmap to promote trade, expand the investment portfolio and encourage joint collaboration in research and development, information technology and agriculture.
The prime minister said Pakistan and Uzbekistan stood to benefit significantly from each other’s strengths in key sectors. He also lauded the economic achievements of President Mirziyoyev’s government, including the doubling of GDP in a decade, lifting 8.5 million people out of poverty and halving unemployment.
“Pakistan has immense potential for joint ventures in minerals, pharmaceuticals, and textiles, creating a win-win situation for both countries. Pakistan’s globally recognized expertise in surgical instruments and medical devices offers significant scope for cooperation,… pic.twitter.com/vz7S6fLV1E
He said that 30 redundant textile plants in Uzbekistan presented a win-win opportunity for investors from both sides and expressed the hope that Pakistan International Airlines flights to Uzbekistan would help boost people-to-people contact.
In his remarks, President Mirziyoyev said the business forum reflected long-standing shared intentions and deep mutual understanding between the two countries. He congratulated PM Shehbaz and the people of Pakistan on what he termed remarkable economic progress, citing reduced inflation, single-digit interest rates and strong recovery, which he said offered excellent opportunities for deeper cooperation.
President of Uzbekistan Shavkat Mirziyoyev addresses Pakistan Uzbekistan Business Forum held in Islamabad. pic.twitter.com/uYr8aYrp8D
Calling the business community a “true bridge” between the two nations, he said that through the $2b trade protocol both sides had committed to zero corruption, no bottlenecks and no obstacles.
He said Uzbekistan required Pakistan’s expertise in the pharmaceutical sector, particularly in high-quality and affordable medicines, and offered 10-year tax exemptions, facilitation and all conducive conditions for investors.
He said around 30 high-tech textile enterprises in Uzbekistan were awaiting Pakistani management and expertise to help access global markets, and also expressed interest in collaboration in leather goods.
“Pakistan has immense potential for joint ventures in minerals, pharmaceuticals, and textiles, creating a win-win situation for both countries. Pakistan’s globally recognized expertise in surgical instruments and medical devices offers significant scope for cooperation,… pic.twitter.com/vz7S6fLV1E
On mining cooperation, he said the relevant Uzbek ministry was ready to finalise action plans, adding that Uzbekistan had growing demand for rice, potatoes and processed meat and was open to joint ventures, land allocation and cooperation in seed production.
The Uzbek president said four weekly flights were currently operating between Uzbekistan and Pakistan, adding that more routes would help strengthen people-to-people and business links. He invited Pakistani businessmen to visit Uzbekistan to explore opportunities, develop plans and launch operations, assuring full support.
Later, the two leaders witnessed the exchange of documents of pre-signed MoUs between business entities of the two countries.
President Zardari confers Nishan-e-Pakistan to Uzbek counterpart
Separately, President Asif Ali Zardari conferred Nishan-e-Pakistan, the country’s highest civilian award, on President Mirziyoyev in recognition of his contribution to strengthening Pakistan-Uzbekistan relations.
The special investiture ceremony was held at Aiwan-e-Sadr and attended by PM Shehbaz, members of the federal cabinet, Chief of the Air Staff Air Chief Marshal Zaheer Ahmed Baber Sidhu, members of the diplomatic corps and parliamentarians. A state banquet was later hosted in honour of the visiting president.
Earlier, President Zardari held a bilateral meeting with President Mirziyoyev at Aiwan-e-Sadr, during which he said Pakistan attached great importance to its close and brotherly relations with Uzbekistan, describing the partnership as natural and enduring, rooted in shared history, culture and faith.
🇵🇰🇺🇿 President Asif Ali Zardari hosted President Shavkat Mirziyoyev of Uzbekistan at Aiwan-e-Sadr today. The leaders discussed trade, connectivity, defence, culture and regional cooperation. The President also conferred the Nishan-e-Pakistan on the Uzbek President. @president_uz pic.twitter.com/EGMlOFuR72
He said Pakistan was committed to elevating bilateral ties through enhanced cooperation in connectivity, trade and people-to-people contacts, and described President Mirziyoyev as a visionary statesman whose leadership had transformed Uzbekistan into a modern and prosperous country.
He expressed satisfaction over the positive trajectory of bilateral relations and reaffirmed Pakistan’s commitment to further strengthening cooperation in trade, connectivity, defence, security, culture and heritage.
He highlighted the importance of direct air links between the two countries and regional connectivity initiatives, including the Uzbekistan-Afghanistan-Pakistan railway project, while underscoring the need to address remaining challenges collectively.
Referring to the shared goal of expanding trade to $2b, President Zardari stressed the need for enhanced collaboration between financial institutions, including banks, to facilitate trade and investment flows.
President Mirziyoyev said Uzbekistan attached great importance to strengthening friendship and strategic partnership with Pakistan and expressed satisfaction over the steady growth in bilateral contacts, including increased trade, joint ventures and cooperation projects.
Endorsing the need to expand air links, he said two additional direct flights would be added, increasing the total to six weekly flights. He also invited President Zardari to pay an official visit to Uzbekistan.
The National University of Sciences and Technology (NUST) conferred the honorary degree of Doctorate of Philosophy and the title of professorship on the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, in recognition of his extraordinary leadership and contributions… pic.twitter.com/H4dmMzOqMv
Meanwhile, the Anti-Corruption Agency of the Republic of Uzbekistan and Pakistan’s National Accountability Bureau signed an MoU to enhance cooperation in the fight against corruption. The agreement was signed by National Accountability Bureau Deputy Chairman Sohail Nasir and Abdulaziz Kamilov, adviser to the Uzbek president on foreign policy.
The MoU provides a framework for institutional coordination, information sharing, technical assistance, exchange of expertise and capacity building in areas including forensic accounting, asset investigation, forensic engineering and money laundering, in line with the UN Convention against Corruption.
Pakistan and Uzbekistan also reaffirmed their commitment to elevating bilateral relations to a qualitatively new level as President Mirziyoyev concluded his visit.
Pakistan, Uzbekistan sign joint declaration to expand strategic partnership
Earlier, Pakistan and Uzbekistan signed a joint declaration following the state visit of the Uzbek president, reaffirming their commitment to expand strategic cooperation across trade, connectivity, security, education and culture, the Ministry of Foreign Affairs said.
Joint Declaration On The Outcomes Of The State Visit Of The President Of The Republic Of Uzbekistan To The Islamic Republic Of Pakistan (1/2)https://t.co/EVdCx7aJnj
— Ministry of Foreign Affairs - Pakistan (@ForeignOfficePk) February 6, 2026
🔗⬇️ pic.twitter.com/GRGpSr7rMEJoint Declaration On The Outcomes Of The State Visit Of The President Of The Republic Of Uzbekistan To The Islamic Republic Of Pakistan(2/2)https://t.co/EVdCx7aJnj
🔗⬇️ pic.twitter.com/fhiqfiPLRCThe declaration said the talks and agreements signed during the visit would “further strengthen the strategic partnership between the Islamic Republic of Pakistan and the Republic of Uzbekistan”.
Both sides expressed satisfaction over the trajectory of bilateral ties and agreed to deepen cooperation in political, economic and regional spheres, with the leaders holding “comprehensive and in-depth discussions covering the full spectrum of bilateral relations”.
The two countries reiterated their commitment to achieving a bilateral trade target of $2b in the coming years. They also agreed to expand industrial cooperation, promote joint ventures and enhance collaboration in sectors including pharmaceuticals, textiles, agriculture, minerals and engineering goods.
On connectivity, the leaders underscored the importance of regional integration and welcomed progress on the Uzbekistan-Afghanistan-Pakistan Railway Project, terming it vital for transit trade and socio-economic development. They reaffirmed their commitment to the project’s early completion and to strengthening multimodal transport links.
The declaration highlighted growing cooperation in defence and security, with both sides agreeing to continue joint military exercises, training programmes and institutional exchanges. They also pledged closer collaboration between law enforcement agencies to combat terrorism, extremism and drug trafficking.
Addressing regional issues, the leaders underlined the importance of peace and stability in Afghanistan, calling for concrete action against terrorist groups and for preventing the use of Afghan territory for terrorism against other countries.
Both countries reaffirmed support for multilateral cooperation, vowing to coordinate closely at the United Nations and other international forums and to support each other’s candidacies.
On cultural and educational ties, the declaration noted plans to expand academic collaboration, research partnerships and people-to-people exchanges. The two sides also agreed to promote tourism cooperation, media exchanges and joint cultural initiatives to strengthen historical bonds.
President Mirziyoyev thanked the government and people of Pakistan for their hospitality and invited PM Shehbaz to visit Uzbekistan, an invitation the prime minister accepted.