Prime Minister Shehbaz Sharif on Friday said that ties between Pakistan and Uzbekistan from now onwards would be measured by trade flows, investment projects, industrial partnerships and people-to-people exchanges, Radio Pakistan reported.
According to the report, he made the remarks while addressing the Pakistan-Uzbekistan Business Forum in Islamabad alongside Uzbek President Shavkat Mirziyoyev, who is in Islamabad on an official visit.
In his remarks, the premier said that it was in this spirit that both countries had set an “ambitious yet easily achievable target of increasing our bilateral trade to $2 billion”, the report said.
He said the two countries had also signed a protocol, which would lead to the constitution of a working group to draft a five-year roadmap in order to promote trade, investment, and joint collaboration in research and development, information technology and agriculture, it added.
PM Shehbaz also said that tourism was another area in which both countries could benefit from each other’s experience.
“He expressed the confidence that business-to-business memoranda of understanding worth $3.4bn are going to materialise,” the report said.
The premier also stated that Pakistan considered Uzbekistan not only a partner but a gateway to Central Asia with great potential for joint ventures with Pakistani entrepreneurs, it added.
Meanwhile, the visiting dignitary urged the business communities of both countries to come forward to tap the full trade potential between Pakistan and Uzbekistan.
“He assured a ten-year tax exemption to Pakistani businesses in addition to all possible facilitation. The Uzbek president emphasised that both countries have a great trade potential in diverse areas,” the report said.
‘Pakistan committed to boosting ties with Uzbekistan in diverse fields’
Separately, President Asif Ali Zardari said that Pakistan was committed to elevating bilateral relations with Uzbekistan to “new heights” through closer cooperation in connectivity, trade and people-to-people contacts, according to a separate report by Radio Pakistan.
According to the report, President Zardari met with Uzbekistan President Mirziyoyev and expressed the confidence that the visit would prove “productive and forward-looking”.
“President Zardari reaffirmed Pakistan’s commitment to working closely with Uzbekistan to further strengthen cooperation in trade, connectivity, defence, security, culture and heritage,” Radio Pakistan said.
He noted that direct air links between the two countries had brought the people of the two countries closer and underscored the importance of regional connectivity initiatives, including the Uzbekistan-Afghanistan-Pakistan Railway Project, while highlighting the need to address remaining challenges through collective efforts, the national radio broadcaster said.
During the meeting, President Zardari highlighted the “steady growth in bilateral trade in recent years and underscored the need to realise the true economic potential of the relationship, with the shared objective of expanding trade to two billion dollars as agreed by the two sides,” the report said.
“He also stressed the importance of enhancing people-to-people contacts, tourism cooperation and cultural exchanges, drawing on the rich historical and spiritual links between the two nations,” it added.
President Zardari also expressed the need to extend collaboration and facilitation between the financial institutions, including banks, to support trade and investment flows, it added.
Radio Pakistan quoted Uzbek President Mirziyoyev as saying that the country attached great importance to strengthening friendship and the strategic partnership with Pakistan.
“He noted with satisfaction the steady growth in bilateral contacts at various levels, including the expansion of trade, an increase in joint ventures, and the implementation of cooperation projects in priority sectors of the economy,” it said.
It added that President Mirziyoyev directed his concerned minister to coordinate with the Pakistani counterpart in this regard.
“The Uzbek president emphasised the need to further expand practical cooperation through closer political dialogue, stronger trade, economic and investment ties, and more active business exchanges,” the state-run broadcaster said.
It stated that President Mirziyoyev invited his Pakistani counterpart to pay an official visit to Uzbekistan.
“He said two additional direct flights would be added between the two countries, taking the total number of weekly flights to six, to further facilitate people-to-people contacts, tourism and business exchanges,” it added.
During the meetings, the two presidents also discussed the regional situation, including matters affecting peace, stability and security, it said.
Later, President Zardari conferred the Nishan-i-Pakistan on President Mirziyoyev in recognition of his contribution to strengthening Pakistan-Uzbekistan relations, the report added.
