Tashkent, Uzbekistan (UzDaily.com) - The first meeting of the Uzbek-Pakistani Business Council was held in Tashkent at the International Hotel in Tashkent on 14 July. The event was moderated by the Chairman of the Chamber of Commerce and Industry of Uzbekistan A. Ikramov.

The event was attended by Deputy Prime Minister - Minister of Investments and Foreign Trade Sardor Umurzakov, Adviser to the Prime Minister of the Islamic Republic of Pakistan Abdul Razak Dawood, President of the Federation of Chambers of Commerce and Industry of the Islamic Republic of Pakistan Mian Nasser Hyatt Maggo and other representatives of the ministry and agencies, as well as representatives of the business circles of the two countries.

The key topic of the event was the strengthening of bilateral ties between the business communities of the two countries, as a decisive factor in the further development of investment and trade and economic Uzbek-Pakistani cooperation.

During his speech, Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov noted that trade and economic ties and cooperation between the two countries have been actively developing in recent years, and despite the pandemic, the volume of mutual trade and the number of joint business projects between Uzbekistan and Pakistan are growing rapidly. He also focused on the fact that the ongoing cooperation between Uzbekistan and Pakistan gives a new impetus to the further development of relations between the two countries.

Further, the adviser to the Prime Minister of the Islamic Republic of Pakistan Abdul Razak Dawood made a speech, where he stressed that regular contacts at a high level in recent years contributed to the dynamic development of bilateral relations, filling them with concrete content. It is worth noting that special attention is paid to the consistent expansion of economic partnership in priority areas for Uzbekistan and Pakistan, as well as the intensification of interaction and cooperation between representatives of the business circles of the two countries.

Speaking at the event, President of the Federation of Chambers of Commerce and Industry of the Islamic Republic of Pakistan, Mian Nasser Hyatt Maggo, noted that he had all hopes that today's meeting would become a powerful business platform and would define a new starting point in relations between the business circles of Uzbekistan and Pakistan, traditionally based on the principles high mutual understanding, deep respect and sincere friendship.

At today's Uzbek-Pakistani Business Council, attention was paid to strengthening cooperation between the business community of the two countries.

During the Meeting, the guests were familiarized with presentation materials on the investment potential of Uzbekistan, as well as with all the conditions for doing business in our country.

At the end of the event, representatives of the Uzbek and Pakistani private sectors who took part in today's event expressed their desire to contribute to the further development of joint projects in the two countries with the participation of their capital.

According to the results of January-May 2021, the volume of mutual trade amounted to 69.4 million dollars (+ 158.8%), including exports – US$47.6 million (+ 159.2% times), imports - US$24.8 million (-72%).

As of 1 June 2021, there are 163 enterprises with Pakistani investments, of which 48 joint ventures and 115 ventures with 100% Pakistani capital.