By Commerce Reporter
LAHORE – Uzbek businessmen and investors are keen to strengthen mutual trade and economic ties.
These views were expressed by the Deputy Chairman of Uzbekistan Chamber of Commerce & Industry and head of a high-level delegation Tokhtaev Akobirjon while speaking at the Lahore Chamber of Commerce and Industry.
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LCCI President Mian Abuzar Shad presented the address of welcome while Executive Committee Members Syed Hassan Raza, Amina Randhawa and Syed Salman Ali were also present.
Tokhtaev Akobirjon pledged to make all out efforts to strengthen the cooperation and exploring untapped opportunities in trade and investment. He said that the visit is a step forward in establishing long-term institutional linkages between the business communities of Pakistan and Uzbekistan.
LCCI President Mian Abuzar Shad said that Uzbekistan is a key trading hub in Central Asia. He said that the Lahore Chamber of Commerce and Industry is the premier business support organization in Pakistan and always takes pride in hosting foreign trade delegations. Referring to a previous high-level Uzbek delegation that visited LCCI just four months ago, he said that this continued engagement reflects the growing interest in strengthening bilateral relations.
The LCCI President said that that Pakistan and Uzbekistan are brotherly nations, enjoying over three decades of diplomatic ties built on mutual respect and regional cooperation. He said that Pakistan views Uzbekistan as a pivotal economy under the Government of Pakistan’s “Vision Central Asia” policy, which focuses on political engagement, trade and investment, energy collaboration, defence cooperation and people-to-people linkages.
He expressed concern that the current volume of bilateral trade does not reflect the actual potential between the two countries.
He said that in 2023-24, the total bilateral trade amounted to around $106 million, with Pakistan exporting goods worth approximately $78 million and importing about $28 million from Uzbekistan. Pakistan’s major exports to Uzbekistan include rice, edible fruits, and pharmaceuticals, while imports primarily consist of vegetables, cotton and zinc.
Mian Abuzar shad stressed the need to explore new areas for collaboration, especially in sectors like agriculture, pharmaceuticals, textile, leather, chemicals, renewable energy and information technology. He also pointed out that the members of the visiting delegation are primarily from the textile and leather footwear industries and are actively seeking joint ventures and partnerships with Pakistani companies.
He expressed confidence that the delegation would find reliable business partners in Lahore and hoped that this visit would serve as a milestone in strengthening commercial ties between the two countries.
