FM Commerce Unveils $50 Billion Trade Potential with Central Asia on Uzbek Independence Day
Islamabad : The Uzbekistan Embassy in Pakistan celebrated its Independence Day with a gathering of distinguished guests and diplomats. Among the attendees were Caretaker Federal Minister for Commerce & Industries and Productions Dr Gohar Ijaz, Dean of the Diplomatic Corps in Islamabad Ambassador Otajan Mavlamov, senators, MPAs, former federal ministers and secretaries, ambassadors, high commissioners, heads of international organizations, prominent experts, and journalists. During the celebration, Ambassador Aybek Arif Usmanov expressed gratitude to President Dr Arif Alvi, the Government of Pakistan, Pakistan Army, Navy, and Air Force for their cooperation in strengthening connectivity between the two countries.
Ambassador Aybek Arif Usmanov of Uzbekistan to Pakistan pays many thanks indeed to all of you for great respect for being in today`s celebration on Independence day of Uzbekistan.
Only in last 2 years we together have increased nearly half billion of bilateral trade via brotherly Afghanistan based on Transit and Preferential trade agreements. No doubt that our teams along with our colleagues will reach very soon the goals of recently signed 1 bln Trade and Industrial cooperation Road Map.
The New Constitution adopted this year in Uzbekistan reflects the changes and reforms implemented by Uzbek Government the check and balances between Public-State-Parliament.
Federal Minister for Commerce, Industries & Production, Dr. Gohar Ejaz, was the chief guest at the independence day celebration
of the Republic of Uzbekistan in Islamabad, highlighting the significant trade potential in Central Asian countries, totaling a staggering $50 billion.
Mr. Gohar pledged to achieve a remarkable $1 billion in trade with Uzbekistan within the current year.
Over the past four years, Pakistan and Uzbekistan have made substantial progress in reviving their bilateral trade relations, with trade increasing from $27 million in 2019-20 to an impressive $126.05 million in 2022-23.
Mr. Gohar emphasized the importance of Pakistan following Uzbekistan’s path to revolutionary agricultural development.
Mr. Gohar conveyed his heartfelt congratulations to the people of Uzbekistan on this special occasion, highlighting the historical, cultural, and geographical ties that unite both nations.
He also pointed out the operational Transit Trade Agreement between the two countries since March 2022, aligning with Pakistan’s vision to become a trade, transit, and trans-shipment hub while enhancing regional connectivity with Central Asia.
Speaking on the importance of trade, Mr. Gohar referenced the teachings of Prophet Muhammad (SAW) and stressed the need to follow His footsteps for real progress, with a vision to increase annual bilateral trade turnover with Uzbekistan to $1 billion.
A roadmap has already been signed to boost bilateral trade and facilitate investment by eliminating non-tariff trade barriers.
The Ambassador of Uzbekistan warmly welcomed Mr. Gohar’s vision and efforts, acknowledging the potential for further growth in sectors such as textiles, food, pharmaceuticals, and energy in the realm of bilateral trade.
The minister with other dignitaries cut the cake as well.
The ambassador concluded by conveying best wishes to Pakistan’s new Caretaker Government, Pak Army, and the brotherly Pakistani nation, foreseeing significant successes and dynamic development in their endeavors.