Tashkent (TDI): Pakistan and Uzbekistan agreed on Wednesday to expand bilateral trade to $2 billion as Prime Minister Shehbaz Sharif met with Uzbekistan President Shavkat Mirziyoyev in Tashkent.
The development comes days after a similar deal to boost investments to $2 billion was reached with Azerbaijan during the premier’s 2-day official visit there, which he concluded on Tuesday.
The prime minister arrived in Tashkent on Tuesday evening on a two-day official visit to strengthen bilateral and trade ties.
Pakistan and Uzbekistan have strengthened relations through trade and economic cooperation.
A $1 billion trade agreement was inked in 2023, and plans for further collaboration, including a roadmap for industrial cooperation, show the two countries’ commitment to boosting regional connectivity.
Earlier today, PM Shehbaz was welcomed by Uzbekistan President Shavkat Mirziyoyev at the Tashkent Congress Centre, where both leaders held a bilateral meeting.
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Following their meeting, PM Shehbaz and President Mirziyoyev witnessed a ceremony where several memorandums of understanding (MoUs) were inked between the two nations in different areas.
Speaking on the occasion, President Mirziyoyev said: “We came to the conclusions on different spheres and mutual trade turnover had crossed $400 million and we have plans to increase that to $2 billion.”
He termed the talks between them “very fruitful”, adding that there was a “new direction” for them for future goals.
He said: “Pakistan is our trusted partner, trusted by time, and a promising ally whose global reputation is steadily growing.
President Mirziyoyev said that despite current global challenges, PM Shehbaz Sharif is carrying out tremendous work to ensure peace and stability, improve the living standards of the population and accelerate economic development.
Congratulating the Pakistani government on those “achievements”, he said that the ties between the two nations had been developing “dynamically”.
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Meanwhile, addressing the press briefing, PM Shehbaz reaffirmed Pakistan’s commitment to working with Uzbekistan on a planned railway link that would traverse Afghanistan and connect the two nations.
He said: “We are going to achieve jointly Trans-Afghan railway connectivity which will be a game changer not only for Pakistan and Uzbekistan but in the whole region.
“We have discussed and decided to collaborate in the field of mine and minerals,” the prime minister said, adding that the “potential of investing in each other’s economic zones” was also discussed.
