President Asif Ali Zardari hands over the Nishan-e-Pakistan to Uzbekistan President Shavkat Mirziyoyev during a special ceremony at Aiwan-e-Sadr as Prime Minister Shehbaz Sharif looks on. Photo: PPI
ISLAMABAD:
Prime Minister Shehbaz Sharif on Friday invited Uzbek business firms to explore investment opportunities in Pakistan’s textile, pharmaceutical, mining, agriculture and tourism sectors as private sector entities from both countries signed MoUs 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 on a two-day state visit here, said both sides had signed a protocol on Friday to achieve an “ambitious but easily achievable” target 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 of creating a conducive business environment with no room for systemic obstacles.
Both leaders welcomed the B2B agreements with the Uzbek president, calling it “very achievable” because both sides had a very good program already drawn up and established.
“I am here of course as the Prime Minister of Pakistan, but for this forum as the Chief Executive of Pakistan. I am just a phone call away. My colleagues are just a phone call away. We will remove any bottleneck or obstacle in the way.
And I would like to assure you that bureaucracy and red tape will not create any kind of hurdle in your business proposal,” PM Shehbaz pledged.
The Prime Minister said that 30 redundant textile factories in Uzbekistan could provide a win-win opportunity for investors from both sides and expressed hope that PIA flights to Uzbekistan would increase people-to-people contact.
In his remarks, President Mirziyoyev said the business forum reflected the long-standing common intentions and deep mutual understanding.
He called business a “real bridge” between two nations and said that through the $2 billion trade protocol, both sides had committed to zero corruption, no bottlenecks and no obstacles.
He said that Uzbekistan needed Pakistan’s expertise and high quality in the pharmaceutical sector, affordable medicines and offered 10-year tax exemptions, support and all enabling conditions.
He told the gathering that Uzbekistan had about 30 high-tech textile companies awaiting Pakistani leadership and expertise to access world markets, and also expressed his country’s strong interest in leather goods collaborations.
He invited Pakistani businessmen to visit Uzbekistan to study opportunities, develop plans and start operations, to ensure all necessary support.
Later, the two leaders also witnessed the exchange of the documents from pre-signed MoUs between business units from both sides.
Strategic partnership
Pakistan and Uzbekistan on Wednesday reaffirmed their commitment to elevate bilateral relations to a qualitatively new level as the President of the Republic of Uzbekistan Shavkat Mirziyoyev concluded a two-day state visit to Pakistan marked by far-reaching agreements on trade, connectivity, culture, security and regional cooperation.
In a joint statement issued at the end of the visit, both sides emphasized their willingness to strengthen cooperation in support of each other’s sovereignty, independence and territorial integrity while promoting sustainable development in line with long-term national interests.
“Pakistan and Uzbekistan are bound by deep historical, cultural and spiritual affinities. Our partnership is rooted in trust and shared aspirations for peace and prosperity in the region,” Prime Minister Shehbaz Sharif said during the talks.
On economic cooperation, both sides reiterated their resolve to reach the ambitious bilateral trade target 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.
Leaders welcomed progress in expanding the preferential trade agreement, signing 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 along with enhanced e-commerce cooperation.
Connection was prominent 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 early completion of the project, recognizing its importance for regional integration and economic development.
Pakistan reiterated its readiness to provide Uzbekistan with access to its international standard seaports and road network for transit trade, while both sides committed to early operationalization of the multimodal transport MoU.
In the cultural field, 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 the Baburid heritage and promised to expand cooperation through cultural festivals, academic exchanges and heritage preservation.
MoU to fight corruption
Anti-Corruption Agency of the Republic of Uzbekistan (ACAU) and National Accountability Bureau of 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 the Nishan-e-Pakistan, the highest civilian award, on Uzbekistan President Shavkat Mirziyoyev in recognition of his contribution to strengthening Pakistan-Uzbekistan relations.
The special investiture ceremony was held at Aiwan-e-Sadr and was attended by 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, among others, and was followed by the host of a state banquet.
