In a major move to promote economic cooperation, Pakistan and Uzbekistan have decided to boost their bilateral trade from the existing $400 million to a target of $2 billion in the near future. This was decided during a fruitful two-day visit by Prime Minister Shehbaz Sharif to Uzbekistan, during which he had one-on-one meetings and delegation-level interactions with President Shavkat Mirziyoyev.
Strengthening Trade Relations
The talks underlined the vast possibilities of cooperation in many areas, such as investment, connectivity, and tourism. Both leaders stressed their resolve to make the “dream” project of the Trans-Afghan Railway a reality, which would link Central Asia with South Asia. The Prime Minister termed this project as a game changer for regional trade and connectivity.
Historical Bonds and Shared Goals
Grateful for the warm welcome accorded to him, Prime Minister Sharif spoke of the centuries-long relationship between Pakistan and Uzbekistan, saying that their bilateral relationship is moving in the right direction positively and rapidly. He attributed this to President Mirziyoyev, saying, “The relations between our countries are moving in the right direction positively and speedily,” crediting President Mirziyoyev for his key role in changing the economic face of Uzbekistan.
Economic Transformations
Prime Minister Sharif congratulated Mirziyoyev on his astounding economic success, such as cutting the poverty rate from 42% in 2016 to only 8% and rising foreign direct investment from $1.2 billion to $30 billion. Such achievements are the result of a strong vision and commitment to economic reform, which Sharif referred to as miraculous.
Pakistan’s Economic Aspirations
In his speech, Sharif spoke of his administration’s work towards stabilizing the economy of Pakistan in the last year, with the lowering of inflation from 38% to 2.4% and interest rates from 22% to 12%. He sounded hopeful for the future, saying, “This is just the beginning. the journey to progress is restarting in Pakistan.”
Commitment to Regional Stability
Both the leaders emphasized that regional connectivity is possible only if there is a stable and peaceful Afghanistan. Sharif reiterated that the country’s land should not be used by militant organizations to attack any country, including Pakistan, and there is a need for collaborative regional security.
Increasing Tourism and Cultural Ties
The Prime Minister also indicated an interest in spurring tourism between the two countries by expanding flight links and opening new destinations. Mirziyoyev followed suit with ideas for cooperative film production and cultural tourism to further enhance people-to-people relations.
Future Cooperation Initiatives
For easy interaction, the two parties also committed to the setting up of a High-Level Strategic Council. This council will oversee that respective ministries and departments report bi-monthly on what they are doing to enhance cooperation. The establishment of a committee that will work towards solving problems linked to the Trans-Afghan Railway project was also committed.
Conclusion
As both nations start this new era of bilateral relations, the pledge to expand trade and develop cultural relations marks a bright future for Pakistan and Uzbekistan. With good leadership and a common vision, both nations are ready to take great leaps in regional cooperation and economic growth.
