President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of Pakistan Shehbaz Sharif participated in the Uzbekistan-Pakistan Business Forum, bringing together around 300 business leaders from both nations.
In his address, President Mirziyoyev highlighted the importance of trade and economic cooperation as the driving force of bilateral relations. He emphasized that both economies possess significant potential to complement each other.
Notably, trade turnover between the two countries exceeded $400mn in 2024, with 130 joint ventures in operation. Uzbekistan has emerged as Pakistan’s largest trading partner in Central Asia.
To foster greater collaboration, the leaders agreed to establish a high-level strategic partnership council. President Mirziyoyev proposed holding business forums twice a year in both countries, expanding trade within the framework of the Preferential Trade Agreement, and enhancing interbank settlement mechanisms. He also stressed the need to integrate electronic trading platforms.
Transport and logistics cooperation remains a key focus. The volume of cargo transportation has increased fivefold in recent years, and plans are underway to establish a joint transport and logistics company. The construction of a railway linking China with Central Asia is also expected to boost trade by providing access to Pakistani ports.
The forum showcased active industrial cooperation in pharmaceuticals, agriculture, mining, electrical engineering, textiles, and the leather industry. Notable Pakistani companies such as Al-Rafique Enterprises, Mehran Dates Products, Brighto Chemicals, and Transfopower Industries participated in the event.
Prime Minister Sharif commended Uzbekistan’s economic reforms and the favorable business climate under President Mirziyoyev’s leadership. He expressed Pakistan’s strong commitment to strengthening economic ties and advancing joint projects.
Earlier, both leaders oversaw the signing of multiple agreements aimed at strengthening bilateral ties across various sectors. These included advancing collaboration in science and technology, facilitating visa-free travel for diplomatic personnel, and enhancing cooperation between law enforcement agencies.
Agreements were also reached to expand vocational and technical education programs, promote youth development initiatives, and foster stronger partnerships between national media outlets. Additionally, efforts to deepen city-level cooperation were emphasized, particularly in strengthening ties between Tashkent and Lahore through institutional partnerships.
Pakistan recognized Uzbekistan’s independence in 1991, establishing diplomatic relations in 1992. Since then, economic ties have steadily grown.
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