PHOTO: RP
Trade between Pakistan and Uzbekistan has surged from $122million to $404m, while $320m in investment has been recorded as of August this year. Both sides have set an ambitious goal of raising trade to $2b in the upcoming years.
New trade avenues are opening between Pakistan and Central Asian states on the back of the Special Investment Facilitation Council (SIFC), with bilateral ties between two witnessing record growth.
Read: Pakistan-Uzbekistan ties require paradigm shift
Photo: APP
Uzbek diplomat Oybek Kambarov, during a visit to the Multan Chamber of Commerce, reaffirmed Tashkent’s commitment to establishing special economic zones with tax incentives for Pakistani investors. Currently, 18 industrial zones are operational across key sectors including textiles, food processing, agro-based industries, and leather.
The two countries have also launched three direct flights and streamlined the business visa process to just three days, steps that officials say will boost connectivity and trade facilitation.
During his trip, Kambarov toured different Pakistan’s industries, lauding their quality and innovation. MCCI Senior Vice President Khawaja Mohsin highlighted the Chamber’s role in South Punjab and proposed establishing warehousing facilities for Pakistani exporters in Uzbekistan. Both governments agreed to step up B2B meetings, trade fairs and single-country exhibitions to deepen cooperation.
Officials said the SIFC’s involvement has created “a new chapter of global partnership,” expanding bilateral engagement across trade, investment and technology.