Joint declaration: Pakistan, Uzbekistan target USD2bn trade by 2029

ISLAMABAD: Pakistan and Uzbekistan on Friday reaffirmed their resolve to expand trade, economic relations and industrial cooperation, reiterating their commitment to achieving an annual bilateral trade target of USD2 billion by 2029.

The commitment was made in a joint declaration signed by Pakistan’s Prime Minister Muhammad Shehbaz Sharif and Uzbekistan’s President Shavkat Mirziyoyev at the conclusion of the latter’s two-day state visit to Pakistan.

The two countries urged Afghanistan to address the threats of terrorism, and take immediate and concrete actions to dismantle and eliminate all terrorist organizations for the sake of lasting peace in the region.

Underlining the significance of peace and stability in Afghanistan as a key to lasting regional peace, stability and prosperity in general and the successful implementation of the Uzbekistan-Afghanistan-Pakistan (UAP) Railway Project in particular, the two leaders said: “terrorists continue to pose serious threats to regional and global security.” They asked Kabul to prevent terrorist organizations from using the Afghan territory for terrorism against any other country.

Pakistan’s Prime Minister and Uzbek President expressed their readiness for maintaining regular dialogue and building constructive cooperation in the area of security and defence. To further promote cooperation in this area, the two leaders agreed to continue mutual participation in joint military exercises and trainings, and to cooperate in the field of professional development, exchange of best practices and collaboration between military institutions of the two countries.

The two leaders expressed readiness to expand cooperation between law enforcement agencies of the two countries in the fight against the three evils: terrorism, separatism, and extremism, as well as against drug trafficking.

The two sides reaffirmed their resolve to comprehensively develop and strengthen cooperation in order to support each other’s sovereignty, independence and territorial integrity, while advancing sustainable development aligned with the long- term national interests of the people of both states.

Pakistan and Uzbekistan also agreed to establish a joint management of economic or industrial zones in each country to create favorable conditions for developing industrial cooperation between the two countries, aimed primarily at exporting finished products to third countries, including the CIS and Europe.

“Noting the important role of interregional dialogue in promoting trade and economic cooperation, unlocking new opportunities and identifying new areas of growth for collaboration, the two leaders welcomed the signing of the framework agreement establishing the Inter-Regional Forum. “The sides agreed to hold the first forum of regions of the two countries in Uzbekistan in 2026 at mutually agreed dates,” the joint statement said.

Noting the significance of connectivity as a means of regional integration, transit trade and socio-economic development in the region, Pakistan and Uzbekistan underscored the importance of UAP Railway Project and reiterated their commitment for early completion of the project.

The two Leaders also welcomed the unanimous endorsement of the Termiz-Kharlachi route for the UAP Railway Project, as well as agreement to jointly finance Project Feasibility Study with the hope that it will be completed soon.

Pakistan reaffirmed its readiness to provide access to its seaports for Uzbek transit cargo and to make available its road network of international standards to support Uzbek trade and transit requirements.

The two leaders expressed their satisfaction on the progress made by both sides for completing phase-II of expansion of the PTA, signing the Bilateral Investment Treaty, agreeing to explore the possibility of signing an agreement on aligning SPS measures and mutual recognition of standards, to help Joint Ventures in pharmaceuticals, textile, leather industries, agriculture, minerals and engineering goods, and enhancing e-commerce cooperation. They also emphasized on the need to further diversify trade corridors between Uzbekistan and Pakistan to amend the existing Intergovernmental Agreement on Transit Trade for this purpose.

Recognizing the deep-rooted ties, the two nations vowed to expand cooperation through joint heritage preservation, and the revitalization of linguistic links between Urdu and Uzbek. The two leaders resolved to foster people-to-people contacts through regular cultural festivals, academic exchanges, ensuring that our historical brotherhood serves as a cornerstone for regional peace, intellectual growth, and shared prosperity in the modern era.

Both leaders also agreed that the cooperation in higher education and research would contribute meaningfully to human capital development, innovation, and mutual understanding, and reaffirmed their resolve to further expand and institutionalize academic collaboration as an integral component of Pakistan-Uzbekistan bilateral relations.

The leaders expressed satisfaction over sustained collaboration between national media institutions. They appreciated tangible achievements, including the implementation of the 2022 Broadcasting Agreement, content exchanges, and the ongoing joint production of the documentary “Mushtarakdillar”, which reflects the vibrancy of contemporary bilateral relations.

Copyright Business Recorder, 2026