Ambassador of Uzbekistan to Pakistan Alisher Tukhtaev on Friday said his country aims to increase bilateral trade with Pakistan $1 billion in the coming years.
Addressing the Karachi Chamber of Commerce and Industry (KCCI), he appreciated progress in bilateral trade, noting mutual trade between the two countries had increased from $122 million in 2019 to $387 million in 2023.
Referring to the recent commencement of direct flights between Tashkent and Lahore, aimed at facilitating closer ties between the two countries, the envoy said efforts were 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.
Tukhtaev noted that Uzbekistan and Pakistan share a long history of brotherly relations, strengthened by cultural and religious affinities. “The strong ties between our two countries continue to grow, and today, our two countries are closer than ever, thanks to the realization of the vision of regional connectivity between our countries,” he said. This vision, he maintained, was reinforced thanks to tireless efforts of both countries to enhance economic cooperation and strategic collaborations.
According to the ambassador, Uzbekistan implemented a soft visa regime for Pakistani citizens in September 2024, making it easier for people to visit each other and build stronger connections. “There is immense potential for trade and investment between our two countries. While we have made great strides in trade, there still remains significant potential for further cooperation in investment,” he stressed.
Highlighting investment opportunities in Uzbekistan, he noted it 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 other sectors. “I also welcome the idea of organizing B2B meetings on the sidelines of business delegations’ visits between our two countries to explore and materialize trade and investment opportunities,” he said.
Tukhtaev urged the KCCI to send a business delegation to Uzbekistan to further strengthen cooperation by exploring investment opportunities in key regions. “At the Uzbek Embassy, we are ready to facilitate G2B (Government-to-Business) and B2B (Business-to-Business) meetings to ensure that the trade and investment potential is fully utilized. I look forward to working together with KCCI to enhance ties between our two nations,” he added.
KCCI Highlights Trade Potential
KCCI President Muhammad Jawed Bilwani, Senior Vice President Ziaul Arfeen, Vice President Faisal Khalil Ahmed, former presidents Majyd Aziz and Junaid Esmail Makda, and various KCCI Managing Committee members also attended the meeting. Uzbekistan Economic and Trade Counsellor Bakhrom Yusupov was also present.
In his welcome address to the Uzbek ambassador, the KCCI president said Pakistan and Uzbekistan share deep-rooted religious, historical, and cultural ties. He emphasized that both countries were keen to further deepen and strengthen these bonds by exploring new horizons for mutual prosperity and connectivity.
Emphasizing that volume of trade was still below its true potential, he called for diversifying trade linkages by enhancing bilateral exports and promoting economic cooperation. “Uzbekistan, as the largest cotton producer in Central Asia, and Pakistan, the 5th largest producer, can pursue collaboration in research and development to develop high-yield varieties, improve cotton processing into quality yarn and fabric, and create disease-resistant cotton varieties,” he said, noting this would promote sustainable cotton production in both countries.
Bilwani also encouraged Uzbek investors to collaborate in agriculture by setting up food processing units, storage facilities, and advancing the livestock sector. Joint ventures in high-yield farming and agro-food trade in wheat, rice, oilseeds, frozen foods, dates, figs, pineapples, potatoes, vegetables, and bovine animals could boost bilateral agro-food trade, he added.
The KCCI president concluded his address by noting the potential for both countries to enter into joint ventures in transportation, logistics, I.T., textiles, leather, sports, housing and construction, and the dairy and livestock sectors. “Cultural exchange programs and scholarships may further deepen mutual understanding among students studying in each other’s countries,” he said. “Additionally, language programs and joint research initiatives can also strengthen academic ties between Uzbek and Pakistani educational institutions,” he added.