Uzbek ambassador aims to boost bilateral trade to $1bn

KARACHI: Alisher Tukhtaev, ambassador of the Republic of Uzbekistan, stated on Friday that the Uzbek Embassy is focused on increasing bilateral trade with Pakistan to $1 billion in the coming years.

Speaking during a meeting at the Karachi Chamber of Commerce and Industry (KCCI), the ambassador highlighted the positive progress in bilateral trade, noting that mutual trade between Uzbekistan and Pakistan has risen from $122 million in 2019 to $387 million in 2023.

Tukhtaev also referred to the recent launch of direct flights between Tashkent and Lahore, a significant step in fostering closer ties between the two countries. He further mentioned that efforts are underway to introduce direct flights between Karachi and Uzbekistan later this year. “We encourage our Pakistani brothers and sisters to visit Uzbekistan and experience the warm hospitality of our people,” he added.

He emphasised that Uzbekistan and Pakistan share a long history of strong, brotherly relations, reinforced by cultural and religious affinities. “The ties between our two countries continue to grow, and today, we are closer than ever, thanks to the realisation of the vision for regional connectivity between our nations,” he said, highlighting the concerted efforts of both countries to strengthen economic cooperation and strategic partnerships.

The ambassador also announced that, starting in September 2024, Uzbekistan will implement a soft visa regime for Pakistani citizens, covering both business and tourist visas. This initiative will make 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 is still significant potential for further cooperation in investment,” he stressed, while pointing out Uzbekistan’s favourable environment for investment, which is safe, conducive and liberal.

He invited Pakistani businessmen to explore opportunities in sectors such as textiles, pharmaceuticals, leather, tannery, food processing, agro-businesses and other industries. “I also welcome the idea of organising B2B meetings during business delegations’ visits between our two counwtries to explore and realize trade and investment opportunities,” he added.

The ambassador specifically encouraged KCCI to send a business delegation to Uzbekistan to strengthen cooperation by exploring investment opportunities in key regions of Uzbekistan. “At the Uzbek Embassy, we are ready to facilitate G2B (government-to-business) and B2B (business-to-business) meetings to ensure that the full potential for trade and investment is realized. I look forward to working with KCCI to enhance the ties between our two nations,” he concluded.

Earlier, while welcoming the Uzbek Ambassador, KCCI President Jawed Bilwani emphasised the deep-rooted religious, historical and cultural ties between Pakistan and Uzbekistan. He said that both countries are eager to further strengthen these bonds by exploring new avenues for mutual prosperity and connectivity.