By S.M. Inam
Pakistan and Uzbekistan are poised at the threshold of a new economic chapter, one that promises to redefine trade, investment, and industrial collaboration in Central and South Asia. On Friday, Prime Minister Shehbaz Sharif welcomed Uzbek business firms to explore opportunities across Pakistan’s textile, pharmaceutical, mining, agriculture, and tourism sectors, while private sector entities from both countries signed memoranda of understanding (MoUs) worth $3.4 billion for business-to-business cooperation. The forum, held alongside Uzbek President Shavkat Mirziyoyev’s two-day state visit to Islamabad, reflected more than ceremonial diplomacy; it was a tangible effort to convert historic goodwill into concrete economic action.
Addressing the Pakistan-Uzbekistan Business Forum, Prime Minister Shehbaz cast himself not only as a political leader but as an enabler of enterprise. “I am here, of course, as Prime Minister of Pakistan, but for this forum as the CEO of Pakistan. I am just a telephone call away,” he told a gathering of ministers, diplomats, and business leaders. His words carried the promise of a bureaucracy unburdened by red tape, a rare pledge in a region where procedural inertia often slows investment. Shehbaz assured investors that any bottlenecks would be swiftly removed, signaling a government determined to translate policy rhetoric into operational reality.
The forum was more than a platform for assurances; it was an opportunity to set measurable targets. Both leaders signed a protocol to increase bilateral trade to $2 billion over the next five years. The ambition was underlined as “easily achievable,” reflecting careful planning and an understanding of the complementary strengths of both economies. Pakistan’s last year of trade with Uzbekistan reached $450 million, far below potential. By drawing on sectors such as textiles, where Pakistan has long-standing expertise, and Uzbekistan’s underutilised high-tech textile plants, the forum aimed to chart a roadmap for sustained growth. President Mirziyoyev’s presence reinforced this commitment to partnership.
Praising Pakistan’s economic recovery—highlighted by a fall in inflation from over 30% to single digits, a reduction in the banking policy rate from 22.5% to 10.5%, and IT exports reaching $3.8 billion—he emphasised that Pakistan offered fertile ground for mutually beneficial collaboration. In turn, Shehbaz acknowledged Uzbekistan’s decade-long economic achievements: doubling GDP, lifting 8.5 million citizens out of poverty, and halving unemployment. The mutual recognition of progress was more than symbolic; it framed both countries as equals in capability and ambition, ready to leverage complementary advantages. Central to the forum was the practical promise of cooperation.
The Uzbek president highlighted 30 high-tech textile enterprises awaiting Pakistani management expertise, creating what he described as a “win-win” scenario for investors and local industry alike. Uzbekistan also expressed interest in pharmaceutical collaboration, citing a need for affordable medicines and offering ten-year tax exemptions and other incentives. Mining, leather production, and agriculture—particularly rice, potatoes, and processed meat—were identified as additional areas ripe for joint ventures, with land allocation and support for seed production on offer. The emphasis was not only on investment but on knowledge transfer, operational partnership, and integration into global markets.
The leaders’ remarks underscored the strategic role of people-to-people connections. Pakistan International Airlines’ four weekly flights to Uzbekistan were cited as a foundation for expanded connectivity, facilitating travel for businessmen, professionals, and students alike. The Uzbek president invited Pakistani businesspersons to visit Uzbekistan, study opportunities, develop plans, and commence operations with full governmental support, signaling a rare combination of high-level political backing and operational facilitation. While the forum celebrated commercial prospects, it also conveyed a broader vision of bilateral engagement. Shehbaz stressed that future Pakistan-Uzbekistan relations would be measured not only by trade flows but by joint industrial projects, collaborative research and development, IT partnerships, and cultural exchanges.
The establishment of a working group to develop a five-year roadmap exemplified a structured, strategic approach rather than ad hoc agreements. By linking immediate commercial deals to a long-term plan, both governments sought to ensure sustainability and resilience in their economic partnership. The human dimension of these initiatives is notable. Beyond figures and protocols, such cooperation promises tangible benefits for ordinary citizens: job creation, industrial revitalization, access to affordable medicines, and opportunities for education and training. Investments in tourism, agriculture, and technology are not abstract economic concepts—they affect livelihoods, social mobility, and regional prosperity. The forum therefore reflects an understanding that robust economic ties can strengthen not only state-to-state relations but also the lived realities of citizens on both sides.
(The writer is a former government officer and a senior analyst on national and international affairs, can be reached at inam@metro-morning.com)
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