PM Shehbaz Invites Uzbek Firms to Invest in Pakistan’s Key Sectors

Islamabad: Prime Minister Shehbaz Sharif has extended an invitation to Uzbek business firms to explore and invest in Pakistan’s textile, pharmaceutical, mining, agriculture, and tourism sectors. During a joint address with Uzbek President Shavkat Mirziyoyev at the Pakistan-Uzbekistan Business Forum in Islamabad, the Prime Minister outlined the potential for enhanced economic collaboration between the two nations.

According to Radio Pakistan, Prime Minister Sharif expressed optimism that President Mirziyoyev’s visit would significantly fortify bilateral relations, elevating them to unprecedented levels of economic cooperation. Highlighting the recent signing of a two billion dollar trade protocol, he emphasized that the future of Pakistan-Uzbekistan relations would be assessed through trade flows, investment projects, industrial partnerships, and people-to-people exchanges.

The Prime Minister also announced the formation of a working group to develop a five-year roadmap aimed at promoting trade, investment portfolios, and joint collaborations in research and development, IT, and agriculture. In his remarks, Uzbek President Mirziyoyev called on the business communities of both countries to actively explore the full trade potential between Pakistan and Uzbekistan.

President Mirziyoyev assured Pakistani businesses of a ten-year tax exemption, along with all possible facilitation, to encourage their ventures in Uzbekistan. He also congratulated Prime Minister Shehbaz and the people of Pakistan on their commendable economic progress, which includes reduced inflation, single-digit interest rates, and a strong economic recovery, creating an excellent environment for deeper cooperation between the two countries.

The event concluded with the two leaders witnessing the exchange of documents for pre-signed Memoranda of Understanding (MoUs) between business entities from both nations.