Pakistan Improves trade with Uzbekistan amid investment push in Central Asia

Alisher Tukhtayev, the Ambassador of Uzbekistan to Pakistan, met with Federal Minister for Commerce Jam Kamal Khan to explore ways to improve business opportunities and trade relations, as Islamabad aims to strengthen investment connections with the Central Asian Republics (CARs).

Pakistan is striving to strengthen its position as a key trade and transit center linking the landlocked Central Asian nations with the global community, utilizing its strategic geographic location. In the past few weeks, a surge of visits, investment discussions, and economic exchanges has occurred between representatives from Pakistan and the Central Asian countries.

In February 2023, at the eighth session of the Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation in Tashkent, Pakistan and Uzbekistan established a $1 billion agreement to enhance bilateral trade.

The accord was intended to promote the trade of goods and services. The departing Uzbek Ambassador to Islamabad, Oybek Usmanov, stated in September of this year that the nations intended to unveil a $1 billion roadmap for trade and industrial collaboration soon.

“Both sides agreed to work closely to unlock the full potential of their relationship,” a statement from the Pakistani commerce ministry said after Khan’s meeting with Tukhtayev, who was appointed in October.

“The progress in Uzbekistan is remarkable, and I was particularly impressed by its railway system,” the minister said, underscoring the importance of learning from Uzbekistan’s advancements.