Daily Times

Ambassador of Uzbekistan to Pakistan AliSher Tukhtaev announced that direct flight operations between Pakistan and Uzbekistan will start at the end of the current month of November 2024, describing it as important for the business community of both countries.

At present, the businesses of both countries, including the Gujranwala Chamber of Commerce and Industry (GCCI), want to take advantage of the direct flight operation between Pakistan and Uzbekistan and play their role in promoting bilateral economic and trade relations between the two nations, the ambassador said.

Ambassador of Uzbekistan to Pakistan AliSher Tukhtaev said this during his meeting with President Gujranwala Chamber of Commerce and Industry (GCCI) Rana Muhammad Siddique Khan at the Embassy of Uzbekistan in Islamabad.

On the occasion, both sides discussed the promotion of bilateral economic and trade relations between the two countries and the possibility of an upcoming visit of the business delegation of GCCI to Uzbekistan.

The Ambassador said that the Gujranwala Chamber of Commerce should play its due role in bilateral trade and business between Pakistan and Uzbekistan and exchange delegations with Uzbekistan.

He welcomed the decision of the President of the Gujranwala Chamber of Commerce to take a trade delegation to Uzbekistan and assured the business delegation of GCCI to get full cooperation in Uzbekistan, describing it as important for bilateral trade.

He said that the business community of Pakistan can work in Uzbekistan in textile, Chemicals, IT, wood production and many potential sectors. Uzbekistan is geographically located in the centre of Central Asia and can play a vital role in connecting the 80 million population of Central Asia with Pakistan, he added.

The envoy said that Uzbekistan is an important country due to its geo-strategic position which can provide market access to Pakistan in European markets including Russia and Belarus.

The Ambassador of Uzbekistan hinted at further increasing cooperation with the Gujranwala Chamber of Commerce in the near future and said that he would soon visit the Gujranwala Chamber of Commerce and Industry. He said that he sees an important role of the Gujranwala Chamber of Commerce and Industry in the bilateral economic and trade relations between Uzbekistan and Pakistan.

The envoy said that Pakistan and Uzbekistan have a long history of close economic ties in a number of areas for potential cooperation. He said that Pakistan and Uzbekistan have signed a bilateral Transit Trade Agreement (UPTTA) and a bilateral Preferential Trade Agreement (PTA) on 17 items.

On the occasion, President of Gujranwala Chamber of Commerce and Industry (GCCI), Rana Muhammad Siddique Khan said that the role of the business community of Gujranwala is significant in increasing bilateral trade between Uzbekistan and Pakistan and the role of the private sectors of both countries is very important for flourishing both sides economic ties.

He said that Gujranwala Industrial Sector contributes 8 percent to Pakistan’s Gross Domestic Product (GDP) and similarly, Pakistan’s exports from Gujranwala are currently $2.5 billion and the city is the third largest contributor to the country’s revenue also.

The president said that there are currently 18,000 small and medium entrepreneurs in Gujranwala, which are the backbone of the country’s economy. He said that Uzbekistan is a central country among the Central Asian states and Pakistan and Uzbekistan can play a very important role for economic integration in the region.

He said that Pakistan and Central Asian states, especially Uzbekistan, have a common economic and trade future and only through the concept of shared economic prosperity can economic development come to our region. Gujranwala Chamber of Commerce is already doing business in Uzbekistan in different sectors, which needs to be further increased and Gujranwala Chamber of Commerce will play its full role in this regard, he added.