Uzbekistan Eyes $1 Billion Trade Target with Pakistan

This ambitious goal aligns with the vision of

both nations’ leaders to strengthen economic ties

and enhance regional connectivity

Staff Reporter

Karachi: Ambassador of Uzbekistan, Alisher Tukhtaev, has announced plans to elevate bilateral trade between Uzbekistan and Pakistan to $1 billion in the coming years. This ambitious goal aligns with the vision of both nations’ leaders to strengthen economic ties and enhance regional connectivity.

Significant Growth in Bilateral Trade

During a meeting at the Karachi Chamber of Commerce and Industry (KCCI), the Ambassador highlighted that bilateral trade has grown significantly, rising from $122 million in 2019 to $387 million in 2023. He emphasized the importance of further collaboration in trade and investment to unlock the full potential of both economies.

Direct Flights Strengthen Connectivity

Ambassador Tukhtaev acknowledged the recent launch of direct flights between Tashkent and Lahore, describing it as a pivotal step toward closer ties. Plans are also underway to introduce direct flights from Karachi to Uzbekistan, further improving connectivity.

“We encourage our Pakistani brothers and sisters to visit Uzbekistan and experience the warm hospitality of our people,” he said.

Simplified Visa Regime for Pakistanis

Uzbekistan introduced a soft visa regime in September 2024, making it easier for Pakistani citizens to obtain business and tourist visas. This initiative aims to foster stronger people-to-people connections and encourage business and tourism.

Investment Opportunities in Uzbekistan

Ambassador Tukhtaev invited Pakistani investors to explore lucrative opportunities in Uzbekistan’s key sectors, including:

• Textiles and Pharmaceuticals
• Leather and Tannery
• Food Processing and Agro-Business

He stressed Uzbekistan’s liberal investment environment and encouraged B2B and G2B meetings to maximize trade and investment potential.

Call for Collaboration

KCCI President Muhammad Jawed Bilwani highlighted the untapped potential of Pakistan-Uzbekistan trade, urging diversification in sectors like cotton research, agro-food trade, and textiles. He proposed joint ventures in transportation, IT, and agriculture to further economic cooperation.

Deepening Cultural and Academic Ties

Bilwani emphasized the importance of cultural exchange programs, scholarships, and joint research initiatives to enhance mutual understanding and strengthen academic ties between both nations.