- ICCI-Pakistan hosts a prominent business delegation from Uzbekistan
- Uzbekistan business representatives are to exploring new trade and investment opportunities in Pakistan
- Bakhrom Yusupov appreciates ICCI’s cooperation initiatives to create a business-friendly environment, to supports investors.
- Abdul Rehman Siddiqui says meetings of Uzbekistan delegation to ICCI opens new avenues for economic cooperation, business ventures
By: Muhammad Arif, Editor NSN.Asia
Islamabad: Islamabad Chamber of Commerce and Industry (ICCI) hosted a prominent business delegation from Uzbekistan here on Monday, led by Bakhrom Yusupov, Trade and Economic Counsellor at the Embassy of Uzbekistan.
The delegation, comprising representatives from Uzbekistan’s fruit, vegetables, beverages, and confectionery sectors, engaged in productive B2B meetings with Islamabad’s business leaders to explore new trade and investment opportunities.
Nasir Mansoor Qureshi, President of ICCI, highlighted the chamber’s commitment to promoting trade, investment, and industrial growth. He encouraged Uzbek business leaders to explore partnerships in Pakistan’s industrial zones, invest in joint ventures, and participate in trade expos.
Bakhrom Yusupov, Trade and Economic Counsellor at the Embassy of Uzbekistan, commended ICCI’s leadership for its proactive efforts in fostering international business ties. He appreciated ICCI’s ongoing initiatives to create a business-friendly environment that supports both local and foreign investors.
Abdul Rehman Siddiqui, Senior Vice President of ICCI, expressed confidence that the discussions would open new avenues for economic cooperation, business ventures, and enduring partnerships.
Prominent ICCI leaders present at the event included Chairman Founder Group ICCI Tariq Sadiq, Vice President Nasir Mehmood Chaudhry, former President Mian Shaukat Masood, Executive Members Imran Minhas, Najeeb Ellahi Malik, Tahir Ayub, Malik Aqeel Ahmed, former SVP Khalid Chaudhry, and Senior Advisor to ICCI President Naeem Siddiqui.
Pakistan and Uzbekistan are exploring different avenues and numerous high-level meetings have been held to maximise benefits of a $1 billion trade agreement.
In February 2025, Pakistan Prime Minister Shehbaz Sharif met with Uzbekistan President Shavkat Mirziyoyev in Tashkent and both countries agreed to expand bilateral trade to $2 billion.
PM Shehbaz invited President Mirziyoyev to visit Pakistan, which he accepted. In his remarks, President Mirziyoyev said they had “truly productive” discussions on cooperation in different directions.
Earlier today, PM Shehbaz and President Mirziyoyev held a bilateral meeting, which was followed by the signing of several memorandums of understanding (MoUs) between the two countries in various areas.
Speaking at a joint press conference, the two leaders told the media that both sides had agreed to realise the “dream” project of Trans-Afghan Railway to connect Central Asia with South Asia.
Shehbaz said the project would be a game changer for the region, adding further that Trans-Afghan Railway project, it was agreed that a committee would be formed to look into the allied challenges and issues. “This is our future. Trade will increase, and the flow of people will rise,” he said.
Citing rich cultural heritage, PM called for joint film production to exploit the potential and promoting cultural tourism and people-to-people contacts. He said both sides were ready to fill the gaps and convert commitments into actions.
Recently, Pakistan and Uzbekistan have strengthened their bilateral cooperation through trade and economic agreements and MoUs. Also, Pakistan and Uzbekistan signed a $1 billion deal to increase bilateral trade in February 2023 at the eighth meeting of the Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation in Tashkent. The agreement was aimed at encouraging the exchange of goods and services.
A $1 billion trade deal was signed in 2023, and plans for further collaboration, including a roadmap for industrial cooperation, show the two sides’ commitment to boosting regional connectivity.
For the JMC meeting, Commerce Minister Jam Kamal Khan participated in the ninth session of the Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation and the fourth Uzbekistan-Pakistan Business Forum.
Officials voice hope Pakistan has a lot of business opportunities to increase exports to Uzbekistan following the Russia-Ukraine conflict. Also, they point out that exports have already increased to the Central Asian state. In the meantime, Saudi Arabia has planned to invest $20 billion in Uzbekistan’s energy sector and this huge injection will also create investment and export opportunities for Pakistani companies.
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