Uzbek delegation visits LCCI

Two-way trade volume can be doubled between Uzbekistan and Pakistan with joint efforts, strengthening of contacts between the businessmen of the two countries and exchange of business delegations. Mayor of the Namangan City Uzbekistan Shavkat Abdurazakov expressed these views while speaking at the Lahore Chamber of Commerce & Industry. Ambassador of Uzbekistan Furqat Sidiqov, LCCI Senior Vice President Khawaja Shahzad Nasir, and Vice President Faheem-ur-Rehman Saigal spoke on the occasion.
The Mayor, who was leading a 20-member delegation of Uzbek businessmen, said that Uzbekistan is included among best cotton producing countries while Pakistan has excelled in manufacturing of best quality textile products of international standard. He said that Uzbek government has successfully introduced liberal economic policies coupled with institutional reforms. These efforts have yielded positive results and Uzbek economy is now gaining momentum at a steady pace, he added. Regarding Namangan City, he said that it is globally known for its exotic flowers. "We also organize an international event of our flowers every year," he told.
Ambassador of Uzbekistan Furqat Sidiqov explained in details the efforts to promote bilateral trade between the two countries and said that he is now focusing on private sectors of both countries after exploiting public sector. He underlined the importance of Punjab province and said that his focus is on promoting bilateral relations between Punjab and Namangan on top priority basis and in this connection he will encourage joint ventures in both countries.
Speaking on the occasion, LCCI Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal said that Lahore Chamber has been leading the efforts made to enhance direct trade relations among Central Asian Republics and Pakistan. Lahore Chamber maintains close working relations with embassies of Central Asian Republics and their ambassadors regularly visit us to discuss ways to increase bilateral trade and people to people contacts.
Referring to positive change in recent trade figures between Pakistan and Uzbekistan, they said that joint efforts should be made to continue this trend. They said that in 2017, the volume of bilateral trade was around US$6.8 million which went up to $20.6 million due to rapid increase in Pakistan's exports to Uzbekistan. In 2018, Pakistan's imports from Uzbekistan were worth $3.3 million whereas Pakistan exports to Uzbekistan were to the tune of $17.3 million.
The LCCI office-bearers said that the imports from Uzbekistan consisted of sulphur, unwrought zinc, raw silk and silk yarn etc. Pakistan exported sucrose, fresh fruits and medicaments etc. to Uzbekistan. We can identify a number of other items to be traded between two countries by way of engaging respective chambers of commerce and commercial sections of our embassies, they said.
"Uzbekistan's total imports from the world in 2018 were around $17.2 billion. Pakistan is capable of taking greater share in two way trade and also meeting the requirements of Uzbek markets.