News Desk
ISLAMABAD: Uzbek Deputy Prime Minister for Investment and Foreign Trade, Jamshid Khodjaev said on Wednesday that there are excessive opportunities for trade and investment in Uzbekistan for Pakistani businessmen and investors and Pakistani traders can get full advantage to explore these opportunities.
The Deputy Prime Minister said this while addressing a gathering of Pakistan’s business leaders here in Islamabad where representatives from different industrial sectors were also present.
He added that there are numerous opportunities for investment in Uzbekistan’s potential regions including Bukhara, Samarkand, and Tashkent adding that they will provide all facilities to Pakistani investors and traders in Uzbekistan while resolving all issues of Pakistan’s investors and businessmen
Jamshid Khodjaev further said that during his visit to Pakistan he discussed various measures with officials in Pakistan to increase bilateral trade with Pakistan adding that several agreements have been signed to facilitate and increase bilateral and transit trade between the two countries.
The Deputy remarked that during the meetings different issues were discussed including restructuring of roads and current and fresh avenues in the field of energy and trade which will hopefully usher in a new era of progress and prosperity in the region.
Pak, Uzbek business market
Addressing the gathering, the Ambassador of Uzbekistan to Pakistan, Aybek Arif Usmanov also highlighted the importance of trade between the two countries and added that the business communities of Pakistan and Uzbekistan needed to come closer for enhancing trade adding that both the countries have cultural and religious compatibility which can help further in increasing economic activities in both the countries.
Meanwhile, All Pakistan Textiles Mills Association (APTMA) Secretary General, Shahid Sattar said that Pakistan and Uzbekistan have immense trade potential in the textile sector and added that there is a need for increased collaboration on cotton seed development in both countries.
He added that Uzbekistan can take advantage of the Generalized Schemes of Preference (GSP-Plus) agreement between Pakistan and the European Union, which will rise economic and trade activities in both countries.
Business leader and exporter Khalid Iqbal stressed the need to rationalize mutual tariff and tax regimes in both countries and added that it is important to simplify the visa process on both sides along with the introduction of multiple visas.
Deputy Governor Bokhara, Asadov Rizo Raupovich, and Ferghana Valley, Ikboljon Ergashev remarked that there are broader opportunities for investment for Pakistani investors in these two regions.
He added that there are huge investment opportunities in the tourism sector in Bukhara region for Pakistan’s traders and investors.
Earlier, the Uzbek Deputy Prime Minister Jamshid Khodjaev arrived with his delegation in the capital and the two sides exchanged views on further strengthening mutual cooperation in a wide range of areas and several bilateral agreements and Memoranda of Understanding were also signed.
Earlier the Uzbek delegation also met with Prime Minister Shehbaz Sharif in the PM office.
