Uzbekistan-Pakistan business forum in Lahore focuses on trade and investment opportunities

An Uzbekistan-Pakistan business forum was held in Lahore, as reported by Dunyo. The event was attended by leaders from the Lahore Chamber of Commerce and Industry and entrepreneurs from various sectors, including textiles, leather and wool processing, pharmaceuticals, IT, home appliances, food products, and paper production.

Mian Abuzar Shad, the President of the Chamber, opened the event by thanking the President of Uzbekistan for simplifying visa procedures for Pakistani citizens and establishing air services on the Tashkent-Lahore route. He highlighted the steady development of mutual trade and economic relations in recent years, noting that the full potential between the two countries has yet to be realized.

Uzbek Ambassador Alisher Tukhtayev spoke about the comprehensive economic reforms being implemented in Uzbekistan. He mentioned that these reforms aim to liberalize the economy, improve the business environment, and attract foreign investment. As a result, Uzbekistan's GDP exceeded $100 billion for the first time, with a foreign trade turnover of $54.4 billion and exports reaching $22.4 billion.

Participants were given detailed information about cooperation prospects in the light and textile industries, leather and fur processing, pharmaceuticals, and other priority sectors, as well as the measures taken to encourage foreign investment in the free economic zones (FEZs) established in Uzbekistan.

It was agreed to set up a permanent Uzbekistan corner in the Chamber building to promote bilateral trade. A business forum was also held to showcase household appliances and construction products manufactured in Uzbekistan.