The Embassy of the Republic of Uzbekistan in Islamabad organized a high-level business forum aimed at enhancing trade and investment cooperation between Uzbekistan and Pakistan. The event brought together leading representatives of Pakistani business circles and prominent entrepreneurs, including heads of industry associations and executives from key economic sectors. The forum was attended by Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and Mr. Usman Shaukat, President of Rawalpindi Chamber of Commerce and Industry (RCCI) along with prominent Pakistani entrepreneurs from the pharmaceutical, construction materials, leather and wool processing, textile, and food production industries.

Ambassador of Uzbekistan to Pakistan, Alisher Tukhtaev, delivered opening remarks emphasizing the importance of strengthening economic ties and the strategic potential of enhanced business-to-business cooperation between the two countries. He emphasized the deep-rooted historical, cultural, and spiritual ties between the peoples of Uzbekistan and Pakistan. “This is not just a gathering of business leaders and officials – it is a gathering of hearts and hopes,” Ambassador remarked, setting a warm and visionary tone for the event. Uzbek Ambassador highlighted Uzbekistan’s ongoing transformation under the leadership of President Shavkat Mirziyoyev, stressing that the country is more open than ever to international cooperation. “We are reforming, transforming, and growing. Most importantly, we are ready for you,” he said, inviting Pakistani businesses to explore new opportunities across Uzbekistan’s emerging sectors. Ambassador Tukhtaev also emphasized the strategic importance of Pakistan, describing it as a vital partner and a gateway to South Asia. “Uzbekistan sees Pakistan as a true partner. But our current trade turnover of $400 million does not reflect the potential. Together, we can multiply this figure fivefold,” he asserted. He highlighted several key sectors with strong potential for immediate joint ventures between the two countries. These include agriculture and agro-processing, where Uzbekistan’s expertise in cotton and horticulture can be effectively complemented by Pakistan’s agri-tech and market access. In the textile and leather industries, both countries can benefit from value-added production partnerships, combining Uzbekistan’s raw materials with Pakistan’s manufacturing know-how. The energy sector also offers opportunities for cooperation, particularly in renewable energy and related services. In pharmaceuticals, collaboration in research, development, and the production of affordable medicines was emphasized. Tourism is another promising area, with historical Uzbek cities like Samarkand, Bukhara, and Khiva offering rich opportunities for cultural exchange, especially as air connectivity expands. Finally, logistics and transport infrastructure, covering warehousing, supply chains, and regional connectivity, were identified as essential areas for joint development. Uzbek Ambassador further announced the upcoming launch of Uzbekistan Airways’ new direct flight from Islamabad to Tashkent starting June 14, in addition to current flights from Lahore, and invited Pakistani airlines to start operations to Uzbekistan to further boost connectivity.

In his address, FPCCI President Atif Ikram Sheikh reaffirmed Pakistan’s keen interest in deepening trade relations with Uzbekistan and highlighted the untapped potential in bilateral investment opportunities. He emphasized the importance of deepening trade and industrial partnerships with Central Asia and called for enhanced B2B interaction and practical steps to raise bilateral trade volumes significantly.

RCCI President Usman Shaukat, in his address, emphasized the need to further expand economic relations between Pakistan and Uzbekistan. He highlighted the importance of effectively utilizing the vast potential in Central Asia, increasing bilateral trade volume, and fostering closer cooperation between business communities. Usman Shaukat also called for the establishment of practical mechanisms for continuous dialogue and experience sharing between entrepreneurs of both countries. As a concrete step, he announced plans to visit various regions of Uzbekistan in June-July this year, leading a business delegation from the Chamber.

During the forum, Bahrom Yusupov, Trade and Economic Counselor at the Embassy, gave a detailed presentation on Uzbekistan’s trade potential and growing industrial base, liberalized trade environment, economic reforms, and opportunities and significant incentives offered to foreign investors in the country’s Free Economic Zones (FEZs). The presentation underscored the favorable business environment, tax incentives, and legal guarantees available to international partners. He showcased sectors such as agriculture, textiles, pharmaceuticals, energy, logistics, and tourism as high-potential areas for collaboration. The forum concluded with an interactive Q&A session, where attendees posed insightful questions regarding market access, customs procedures, investment protections, financing options, logistics, legal frameworks, business regulations and sector-specific collaboration opportunities. Embassy representatives responded in detail, reaffirming Uzbekistan’s openness to deeper economic engagement with Pakistan. Participants praised the event as a timely and practical step toward strengthening economic linkages, expanding exports and imports, and exploring joint ventures in strategically important sectors. Several expressed intent to organize follow-up visits to Uzbekistan and explore joint projects. “This forum must not end with speeches – it must begin a journey,” the Ambassador concluded. “We will support you every step of the way – as a friend, as a partner, as a brother. Let this be the beginning of a new chapter.”