PM Shehbaz to visit Uzbekistan to boost regional trade

PM Shehbaz to visit Uzbekistan to boost regional trade as Pakistan is on way to position itself as a key regional transit hub.

Prime Minister Shehbaz Sharif is embarking on a two-day visit to Uzbekistan from February 25-26, with a focus on positioning Pakistan as a crucial regional transit hub. According to the foreign office, the visit will center on enhancing bilateral cooperation in trade, energy, and defense sectors.

Pakistan has been actively working to solidify its role as a key trade and transit link, facilitating access for landlocked Central Asian states to international markets. Over the past year, Pakistan has seen increased engagements, investment discussions, and economic exchanges with Central Asian nations to strengthen these ties.

Sharif’s trip to Uzbekistan follows his recent visit to Azerbaijan, where multiple agreements were signed to enhance collaboration in trade, energy, tourism, and education. Invited by Uzbek President Shavkat Mirziyoyev, Sharif’s visit is expected to result in the signing of several bilateral agreements, according to the Pakistani foreign office.

During their meeting, the Pakistani Prime Minister and Uzbek President will discuss various aspects of bilateral cooperation, including connectivity, trade, investment, energy, defense, regional security, and education. They will also exchange views on regional and global issues of shared interest.

As part of the visit, Sharif will also address the Pakistan-Uzbekistan Business Forum, where key business leaders from both nations will participate in business-to-business (B2B) meetings to further boost trade and investment opportunities.

Uzbekistan, the largest consumer market and the second-largest economy in Central Asia, holds strategic importance for Pakistan. It was the first Central Asian country to sign a bilateral Transit Trade Agreement (UPTTA) and a Preferential Trade Agreement (PTA) with Pakistan, covering 17 items.

In February 2023, both countries signed a $1 billion agreement in Tashkent to enhance trade and economic cooperation. More recently, in January 2024, Uzbek Ambassador Alisher Tukhtaev announced plans to initiate direct flights between Uzbekistan and Karachi, further strengthening connectivity.

The foreign office emphasized that Prime Minister Sharif’s visit underscores Pakistan’s commitment to deepening its partnership with Uzbekistan, fostering economic collaboration, and exploring new opportunities for regional integration and prosperity.