Uzbekistan and Pakistan have developed a package of investment projects worth about $3.5 billion, which includes initiatives in areas such as agriculture, electrical engineering, geology, pharmaceuticals, and the food industry.
This economic cooperation program was presented during the visit of the President of Uzbekistan, Shavkat Mirziyoyev, to Islamabad, as reported by the president's press service.
During negotiations with the Prime Minister of Pakistan, Shahbaz Sharif, trade and economic relations became one of the key topics of discussion. Both sides noted that Mirziyoyev's visit coincides with the fifth anniversary of the establishment of strategic partnership between the two countries.
Over the past five years, the volume of mutual trade has increased by 2.5 times, reaching about $500 million, and the number of joint ventures has nearly tripled. The parties set a goal to increase trade turnover to $2 billion and decided to expand the range of goods under the preferential trade agreement. Additionally, the potential of Uzbekistan's trade houses in Lahore and Karachi will be utilized more actively.
A decision was made to establish an Uzbek-Pakistani Business Council, which is expected to strengthen business cooperation between the countries.
Issues related to the development of transport and logistics infrastructure were also discussed. Meeting participants emphasized the importance of accelerating the construction of the Trans-Afghan railway and promoting the transport corridor Pakistan — China — Kyrgyzstan — Uzbekistan.
It was noted that interaction at the regional level could become an important factor for further economic cooperation. In this regard, the establishment of a Joint Forum of Regions is planned, with the first meeting to be held this year in the Khorezm region.
Other aspects of the partnership were also considered during the negotiations, including the development of pilgrimage tourism. To bring the cultures of the two countries closer, it was decided to hold Uzbekistan Culture Weeks and Uzbek Film Days in Pakistan. A joint cultural center dedicated to the heritage of the Baburid dynasty will be opened in Lahore.
Mirziyoyev expressed gratitude to Sharif for naming one of the streets in Islamabad "Tashkent." In turn, the President of Uzbekistan announced the establishment of a park in the capital of Pakistan in honor of the statesman and poet Zahirdin Muhammad Babur, which will be a gift to the Pakistani people for the celebration of independence.
During Mirziyoyev's visit to Islamabad, a ceremony was also held to confer upon him the title of Honorary Doctor and Professor of the National University of Science and Technology of Pakistan.
As a result of the high-level meeting, a Joint Declaration and about 30 documents concerning priority areas of cooperation were signed.
Among them:
- Agreement on cooperation in port services and the provision of discounts;
- Agreement on cooperation in the field of mining and geology;
- Agreement on cooperation in digital technologies;
- Agreement on cooperation in radiation and nuclear safety;
- Agreement on cooperation in combating corruption;
- "Roadmap" between the defense ministries of the two countries.
