Lahore (IN) Pakistan and Uzbekistan are strengthening their strategic partnership, with growing cooperation in trade, investment and industry driven by mutual trust and the shared vision of both countries’ leadership, Chairman of the Council of Ministers of the Republic of Karakalpakstan, Farkhod Ermanov, said on Tuesday.Speaking at the Lahore Chamber of Commerce and Industry (LCCI), where he led a high-level Uzbek delegation, Ermanov highlighted Karakalpakstan’s vast investment potential in natural resources, energy, industry, agriculture and transit. He said the region offers investors tax incentives, affordable energy and modern infrastructure, making it an attractive destination for foreign investment.
The meeting concluded with the signing of a Memorandum of Understanding (MoU) between the LCCI and the Ministry of Investment, Industry and Trade of the Republic of Karakalpakstan to enhance bilateral trade, investment, commercial information exchange and business cooperation.Welcoming the delegation, LCCI President Faheem Ur Rehman Saigol said Pakistan and Uzbekistan enjoy historic and brotherly relations, but bilateral trade remains below its true potential. He noted that trade between the two countries reached approximately USD 143 million during FY2024-25, including Pakistan’s exports of USD 64 million and imports of USD 79 million, adding that there is significant scope for further growth.He said the visiting delegation represented key sectors such as agriculture, food processing, flour milling, textiles, pharmaceuticals, livestock, oil and gas, and herbal products.
He encouraged businesses from both countries to explore joint ventures and investment opportunities, assuring full support from the Lahore Chamber to Uzbek investors.Ermanov said Karakalpakstan also offers strong opportunities in mining, construction materials, chemicals, hydrocarbons, renewable energy—particularly wind power—and logistics. He invited Pakistani businesses to invest in the region, emphasizing its investor-friendly policies. He also appreciated Pakistan’s diplomatic efforts for regional peace, saying lasting stability would unlock greater trade and investment opportunities across the region.Uzbekistan’s Ambassador to Pakistan, Alisher Tukhtaev, said Pakistan and Uzbekistan share centuries-old historical and cultural ties. He noted that six direct flights have been launched between the two countries over the past 18 months, improving connectivity and business links.
The ambassador said Uzbekistan’s economy is expanding at an annual rate of 7–8 percent and attracted USD 43.5 billion in foreign direct investment last year. He added that both countries are committed to increasing bilateral trade to USD 2 billion within the next five years, supported by the 30 Memorandums of Understanding signed during the recent visit of the President of Uzbekistan to Pakistan.The meeting was attended by senior officials from both countries, business leaders, and representatives of the Punjab Board of Investment and Trade. LCCI Executive Committee Member Waqas Aslam presented the vote of thanks.
