ISLAMABAD: Representatives of more than two dozen Pakistani companies and over one hundred leading Uzbek enterprises met in Tashkent and discussed joint projects in diverse sectors, the Pakistani commerce ministry said on Monday.
The discussions took place at the Uzbek-Pakistani Business Forum, complementing the 9th intergovernmental commission meeting on economic cooperation between Uzbekistan and Pakistan, according to the Pakistani ministry.
These business-to-business (B2B) meetings spanned a variety of industries, including textiles, food processing, engineering and logistics, underscoring the shared commitment of both nations to explore collaborative business opportunities.
Addressing the forum, Pakistan’s Commerce Minister Jam Kamal Khan highlighted Pakistan’s investment-friendly environment and encouraged Uzbek businesses to consider collaborative projects in Pakistan.
"He emphasized that such interactions pave the way for deepened commercial ties and contribute to regional economic stability," the commerce ministry said.
Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov echoed these sentiments, welcoming Pakistani enterprises and emphasizing the Uzbek government’s commitment to fostering a supportive atmosphere for international partnerships.
"Initiatives like the Business Forum play a crucial role in propelling trade and investment forward, creating new opportunities for entrepreneurs," he was quoted as saying.
The development comes as Pakistan seeks to enhance regional connectivity with landlocked Central Asian states by providing them access to its warm water ports. It recently offered Central Asian states to become part of the China-Pakistan Economic Corridor project, under which Beijing has pledged around $65 billion in energy, infrastructure and other projects in Pakistan.
The South Asian country narrowly avoided a sovereign default last year and has since sought to promote closer economic ties with regional and international allies to bolster its fragile $350 billion economy, which has been suffering from a prolonged macroeconomic crisis.