Tashkent, Uzbekistan (UzDaily.com) -- On 21 February, a round table was held in Islamabad with representatives of leading Pakistani companies. The delegation of Uzbekistan, headed by the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov, was represented by the heads of key ministries, departments and industry associations of Uzbekistan.

From the Pakistani side, the event was attended by Adviser to the Prime Minister on Trade and Investment Abdul Razzak Dawood.

The event has become a platform for establishing a direct dialogue with Pakistani business, aimed at finding new points of common interests and identifying the most promising areas for economic cooperation between the two countries through the rapprochement of the Uzbek and Pakistani business communities.

The growing mutual interest of the business circles of Uzbekistan and Pakistan in expanding business cooperation in promising sectors was noted, as well as the existing prerequisites for the implementation of joint projects, formed on the one hand by the high level of industrial and technological development of Pakistani companies, and on the other hand, by the economic potential and vast market Uzbekistan, along with the favorable conditions created in the country for foreign investors and the presence of direct access not only to the markets of the CIS countries, but also to Europe, which was ensured by the country receiving the status of a beneficiary of the EU’s Generalized System of Preferences "GSP +" in 2021. Thus, in particular, the number of enterprises with the participation of Pakistani investors in Uzbekistan has increased almost 6 times over the past 5 years. Business circles are successfully working in the chemical, textile, pharmaceutical and other industries.

The head of the Uzbek delegation announced the intentions of the Government to continue consistent work to deepen market reforms, strengthen mechanisms for the legal protection of private capital and stimulate the development of the investment and industrial potential of the regions and industries of the country, which in general will also contribute to the expansion of the presence of Pakistani business in the market of Uzbekistan.

Wide opportunities and untapped reserves were revealed for the further development of investment cooperation and industrial cooperation in such areas as agriculture, engineering, light industry, pharmaceuticals, production of building materials, electrical engineering and other industries.

Also, the Uzbek side assured Pakistani entrepreneurs of the readiness of the Government to provide them with systematic and comprehensive support in implementing projects in Uzbekistan and resolving all emerging issues.

Participants from the Pakistani side also spoke during the event, talking about the specifics of their business and production and sharing their vision of the prospects for establishing industrial cooperation and trade with Uzbek entrepreneurs. They also had the opportunity to ask questions about the conditions created in a particular industry to attract foreign investors and ongoing support measures, to which the heads of relevant ministries and departments gave detailed and detailed answers.

As a result of the round table, a number of Pakistani entrepreneurs expressed interest in organizing visits to Uzbekistan to study the industrial and investment potential and discuss practical aspects of further cooperation.