Tashkent, Uzbekistan (UzDaily.com) —  On 4 November 2024, the 9th session of the Intergovernmental Commission on Economic Cooperation between Uzbekistan and Pakistan, along with the Uzbek-Pakistani Business Forum, took place in Tashkent.

The event was attended by Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, Pakistan’s Minister of Commerce, Jam Kamol Khan, heads of relevant ministries and agencies, as well as representatives from over 100 major industrial enterprises from both countries.

A preliminary bilateral meeting between the heads of the delegations was held, focusing on the current state and future prospects of cooperation in trade, investment, industrial partnership, transport, and logistics, with an emphasis on fulfilling high-level agreements.

The 9th session of the Intergovernmental Commission followed, where detailed reports and plans from responsible parties on existing Uzbek-Pakistani agreements were reviewed.

Pakistan remains one of Uzbekistan’s key trade partners. Over the past five years, bilateral trade volume has tripled, and since the beginning of this year, it has grown by 10%, surpassing $300 million. The number of joint ventures has also tripled, reaching 128. Freight volume by road transport has grown nearly 6.5 times, reaching 354,000 tons in 2023.

The parties discussed the implementation stages of joint investment projects and trade agreements, outlining specific steps to further enhance bilateral cooperation. These include improving the effectiveness of the Preferential Trade Agreement, organizing national product exhibitions, establishing joint trade houses, and expanding online market access for entrepreneurs.

A joint "Industrial Cooperation Program for 2025-2026" will be developed within the investment partnership framework, with major joint projects planned in agriculture, food processing, IT, chemicals, textiles, and machinery. Steps were agreed upon to improve transport connectivity and simplify goods movement between the two nations.

The session concluded with the signing of a Final Protocol and a Memorandum of Understanding on e-commerce cooperation between Uzbekistan’s Ministry of Investments, Industry, and Trade and Pakistan’s Ministry of Commerce.

As part of the Pakistani delegation’s visit, a business forum took place with over 100 leading companies from Uzbekistan and Pakistan in attendance.

Speakers showcased promising projects in priority economic sectors and presented Uzbekistan’s favorable conditions for business, including incentives, benefits, and comprehensive investor protection.

During the forum and associated B2B discussions, entrepreneurs from both countries explored partnership opportunities and laid a solid foundation for mutually beneficial projects.