Ambassador Invites LCCI Executive Committee To Uzbekistan

Ambassador of Uzbekistan Alisher Tukhtaev Friday personally invited Executive Committee of the Lahore Chamber of Commerce and Industry (LCCI) to visit Uzbekistan

LAHORE, (UrduPoint / Pakistan Point News - 29th Nov, 2024) Ambassador of Uzbekistan Alisher Tukhtaev Friday personally invited Executive Committee of the Lahore Chamber of Commerce and Industry (LCCI) to visit Uzbekistan.

Talking to business community here at Lahore Chamber, the Ambassador hailed the arrival of the first direct flight from Tashkent to Lahore as a landmark event in the evolving relationship between the two nations.

LCCI President Mian Abuzar Shad delivered the address of welcome while Senior Vice President Engineer Khalid Usman also spoke and Executive Committee Members, including Khurram Lodhi, Ahsan Shahid, Waqas Aslam, Ahmad Amin Malik, Muneeb Monnoo, Syed Salman Ali, Ali Imran, Asif Malik and Firdous Nisar were also present.

Ambassador Tukhtaev expressed optimism about the future of bilateral trade and highlighted the opportunities for collaboration in sectors such as energy, logistics and cultural exchange. He emphasized the need to simplify visa procedures and boost connectivity through direct flights, which he believes will foster regional economic integration and strengthen ties between the two countries.

The ambassador invited LCCI to organize a business delegation to Uzbekistan, underscoring the strategic importance of mutual cooperation. He highlighted Pakistan and Uzbekistan's potential to serve as pivotal players in fostering stability and prosperity in Central Asia.

LCCI President Mian Abuzar Shad commended Ambassador Tukhtaev and noted that the two nations have enjoyed strong diplomatic ties for over three decades. He emphasized that Pakistan views Uzbekistan as a key partner under its “Vision Central Asia” policy, which focuses on trade, investment, energy and people-to-people connections.

Mian Abuzar Shad pointed out the existing Preferential Trade Agreement (PTA) and Transit Trade Agreement, signed in 2022 and 2021, respectively, as essential frameworks for enhancing economic ties. He expressed confidence that these agreements will help achieve the $1 billion trade target.

Discussing the current trade figures, Shad noted that bilateral trade stood at $104 million in 2023-24, with Pakistan’s exports amounting to $78 million and imports from Uzbekistan totaling $26 million. He highlighted sectors such as agriculture, pharmaceuticals, textiles, renewable energy and information technology as areas with significant growth potential.

Senior Vice President Engineer Khalid Usman emphasized the importance of initiatives like trade delegations, single-country exhibitions and the establishment of banking channels to further enhance trade relations.