Punjab, Uzbekistan pledge closer trade ties, boost investment cooperation

Punjab, Uzbekistan pledge closer trade ties, boost investment cooperation

LAHORE, Oct 01 (APP):A parliamentary and trade delegation from Uzbekistan called on Punjab Minister for Industries and Commerce, Chaudhry Shafay Hussain, at PISC House on Wednesday, reaffirming the commitment of both sides to enhance bilateral trade and investment cooperation.

The Uzbek delegation was led by Nurdinjon Ismoilove, Speaker of the Legislative Chamber (Oliy Majlis) of Uzbekistan, and included Uzbekistan’s Ambassador Alisher Takhtave, Honorary Consul General Najeeb Mushtaq Vohra, deputy chairmen of parliamentary committees and heads of various institutions.
During the meeting, both sides agreed to strengthen economic ties through increased trade cooperation and mutual investment opportunities. Focal persons were appointed to facilitate coordination, and it was decided that regular exchange of trade delegations would be carried out to foster deeper commercial linkages.
Speaking on the occasion, Provincial Minister Chaudhry Shafay Hussain highlighted the vast investment potential in Punjab, particularly within its Special Economic Zones. He invited Uzbek investors to explore joint ventures in key sectors including agriculture, tourism, energy, electric vehicles and manufacturing.
The minister informed the delegation that a Surgical City, Garment City and Pharmaceutical Valley are being established to attract and support foreign investment. He assured full facilitation for Uzbek investors.
The Uzbek Speaker, Nurdinjon Ismoilove, lauded Punjab’s investment-friendly initiatives, terming the establishment of a community center in Faisalabad as a commendable move. He underlined the need to bolster trade relations and announced that Uzbekistan would soon dispatch a business delegation to Punjab. He also extended an invitation to Minister Shafay Hussain to visit Uzbekistan for further engagement.
Ambassador Alisher Takhtave echoed the importance of concrete steps to deepen bilateral trade ties. He assured that the upcoming visit of the Punjab minister to Uzbekistan would include meetings with the local business community to explore avenues for cooperation.
Director of Punjab Board of Investment and Trade, Dr. Imran Hashmi, was also present during the meeting.