Key Points
- USD 2 billion trade target set under the Prime Minister’s vision to expand bilateral trade
- Joint venture committees are being activated to fast-track cooperation in industry, manufacturing, and investment
- Regional connectivity is identified as a priority to reduce trade costs and improve market access
ISLAMABAD: Pakistan and Uzbekistan are accelerating economic cooperation to expand trade, investment, and industrial partnerships, targeting US$ 2 billion in bilateral trade as outlined in the Prime Minister of Pakistan’s vision.
During a high-level meeting in Islamabad, the Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, met Uzbekistan’s Deputy Minister of Investment, Industry and Trade, Shahrukh Ghulamov. The meeting reviewed progress on trade, investment, and industrial cooperation between the two countries.
The meeting confirmed that Pakistan-Uzbekistan joint venture committees have been formally activated and that implementation of multiple Memoranda of Understanding is advancing at an accelerated pace.
Both sides emphasised regional connectivity, industrial collaboration, and tourism development as key drivers to expand trade volumes. The measures are expected to attract investment and support long-term, sustainable economic growth and regional stability for both countries.
Trade and investment framework
The USD 2 billion trade target forms part of the Prime Minister’s vision to significantly expand Pakistan-Uzbekistan bilateral trade.
Joint venture committees have been established to facilitate industrial collaboration, technology transfer, and value-added manufacturing within Pakistan.
Multiple MoUs are being implemented with accelerated progress in trade facilitation, industrial development, and investment promotion. Investment cooperation mechanisms aim to attract Uzbek capital into Pakistan’s industrial and production sectors, supporting job creation.
Regional connectivity and strategic collaboration
Both countries identified regional connectivity as a core enabler of reduced trade costs and improved market access between South and Central Asia. Initiatives under this framework will strengthen Pakistan’s role as a trade and transit hub linking Central Asia with South Asia.
Uzbek investor confidence in Pakistan was reaffirmed during the meeting, positioning Pakistan as a reliable long-term economic and strategic partner.
The tourism and industrial collaboration agenda is also expected to enhance people-to-people ties and contribute to sustainable economic growth and regional stability.
