Uzbekistan-Pakistan Partnership Targets $2 bn in Trade Growth

During Pakistan’s PM Shehbaz Sharif’s official visit to Uzbekistan, both countries agreed to increase their bilateral trade to $2 bn. The agreement comes after talks with Uzbek President Shavkat Mirziyoyev, leading to several signed memorandums of understanding (MoUs) to enhance cooperation in defence, technology, and technical training.

Trade growth and key sectors

Pakistan and Uzbekistan already achieved a trade turnover of $400 mn, with a clear target set to reach $2 bn in the coming years. The two countries aim to increase investments and explore new opportunities in various industries.

The areas discussed for collaboration include minerals, agriculture, energy, and pharmaceuticals. Both countries also emphasized joint investments in economic zones to support sustainable growth.

Improving connectivity and infrastructure

The visit also saw commitments to enhance regional connectivity. The Uzbekistan-Afghanistan-Pakistan (UAP) Railway project, signed in July 2023, was reaffirmed as a crucial infrastructure initiative. This railway aims to improve trade and logistics between the countries, with expectations of significant economic impact across the region.

Additionally, the air routes between Tashkent and Lahore have already been launched, with plans for further expansions to Samarkand, Bukhara, and Karachi. This is expected to strengthen tourism and people-to-people ties between the two nations.

Tourism and people-to-people connections

Tourism was highlighted as a key area of collaboration. Pakistani citizens from cities such as Peshawar, Quetta, Karachi, and Lahore will be encouraged to visit Uzbekistan’s historical sites, including Bukhara and Samarkand. Similarly, Uzbekistan will benefit from the increased tourism flows from Pakistan.