Tashkent, Uzbekistan (UzDaily.com) -- On 4 March, President Shavkat Mirziyoyev met with the heads of leading companies of Pakistan, in Islamabad.

It was attended by the heads of Nishat Group, Getz Pharma, Pyramid Logistics, Ejaz Group, AKD Group, Wah Nobel Group, Najeeb Fibres, Sapphire Group and many other companies, whose total assets are over US$40 billion.

During foreign visits, the President of Uzbekistan devotes special time to holding such meetings. This demonstrates to businesspeople the high spirit of Uzbekistan for mutually beneficial cooperation and strengthens their confidence.

At the meeting, it was noted that market mechanisms are being introduced into all sectors of the economy, barriers that hinder business development have been removed. Work continues to expand the presence of foreign business based on the new Development Strategy.

In recent years, relations between Uzbekistan and Pakistan have reached the level of strategic partnership. In particular, regular contacts have been established in trade, economic and investment spheres. In recent years, the trade turnover has increased fivefold. Despite the pandemic, the trade turnover has grown by another 70 percent since the beginning of this year.

At the beginning of his speech, the President of Uzbekistan noted the fruitful results of talks with the Prime Minister of Pakistan.

“During this historic visit, we signed the Preferential Trade Agreement. We agreed to take special control over cooperation in transport and transit. Our main goal is to create a system of unhindered and speedy deliveries of products between our countries”, Shavkat Mirziyoyev said.

Confidence was expressed that these efforts will significantly intensify trade and economic ties and create a solid basis for bringing trade to US$500 million in the coming years, and in the future to US$1 billion.

Following the business forum held on the eve of the visit of the President of Uzbekistan in Islamabad, agreements were reached on the implementation of trade and investment projects worth US$800 million in the textile, pharmaceutical, construction, chemical industries, banking and finance and other areas. It was emphasized that all these projects will be included in the program of industrial cooperation, their implementation will be under strict control.

President Shavkat Mirziyoyev called on Pakistan’s companies to increase the portfolio of joint projects.

“Today I would like to listen to your specific proposals. Members of the government, responsible persons of industries have gathered here. We are ready to consider the creation of all conditions and guarantees necessary for your business in Uzbekistan”, the President said.

At the meeting, the participants exchanged views on new areas of cooperation and opportunities in various fields. Promising projects were discussed.

Having approved the plans of the businesspeople of Pakistan, the President instructed the responsible persons to develop a roadmap, which will include all the initiatives and agreements voiced at the meeting.