Pakistan, Uzbekistan Stress Business-Led Growth as $3.4 Billion Private Sector Deals Move Forward

ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif and Uzbek President Shavkat Mirziyoyev on Friday underscored the central role of the business community in strengthening bilateral economic ties, pledging to remove barriers to trade and investment between the two countries.

Speaking at the Pakistan–Uzbekistan Business Forum in Islamabad, the two leaders described the implementation of $3.4 billion worth of agreements between the private sectors of both countries as a major milestone in bilateral cooperation.
Prime Minister Sharif said that follow-up reforms after the Tashkent Business Forum had helped boost bilateral trade, which reached $450 million last year. He added that both sides aim to expand trade volumes to $2 billion, with enhanced cooperation in energy, agriculture, textiles, science and technology.
Highlighting Pakistan’s economic recovery, Sharif said inflation had been reduced to single digits, policy rates lowered, and IT exports had grown by 18 percent to $3.8 billion. He assured Uzbek investors of a secure and investor-friendly environment in Pakistan.
President Mirziyoyev said the business community serves as a vital bridge between the two nations and reaffirmed Uzbekistan’s commitment to facilitating investors. He invited Pakistani entrepreneurs to explore opportunities in Uzbekistan, particularly in textiles, healthcare, agriculture and industry.
The Uzbek president also announced 10-year tax exemptions for Pakistani investors, increased air connectivity between the two countries, and expanded cooperation in healthcare and manufacturing. Several agreements were exchanged during the forum covering textiles, leather production, mining, agriculture, livestock, dairy farming and the medical sector.