ISLAMABAD, Feb 26 (APP): Prime Minister Muhammad Shehbaz Sharif on Wednesday urged the business communities from Uzbekistan and Pakistan to explore the vast investment and business potential in each other’s countries in areas like renewable energy, textile, mining, minerals and tourism through joint ventures.
Addressing Pakistan-Uzbekistan Business Forum in Tashkent along with Uzbek President Shavkat Mirziyoyev, the prime minister said today’s assembly of traders and business communities from both countries was a reflection of commitment to invest not only in Pakistan and Uzbekistan, but exchange ideas and experiences for their mutual benefit and promote trade and investment in areas which were supplementary and complementary.
Agreeing with Uzbek president, the prime minister said that he had rightly stated that both countries were not in competition with each other, rather they were committed to promoting and supporting each other in areas where they could mutually benefit and take advantage.
The prime minister, in the event live telecast on national Tv channels, further said that business conference would go a long way in achieving their goals and objectives by converting their dreams into reality.
He also expressed his gratitude to all those Pakistani business people who had travelled from Pakistan to Tashkent and appreciated the Uzbek president for giving a great message of hope and commitment to support all those efforts that would promote industrialization, trade and commerce in both countries.
Prime Minister Shehbaz Sharif shared that both sides had discussed vast scope in the areas of mutual cooperation between the two countries which would definitely give a big impetus to B2B deals and trans-Afghan railways project which possessed $7billion investment.
The Uzbek president was deeply committed to undertake this project, he said and assured the Uzbek side that the project ‘will be a game changer and serve as a corridor between Uzbekistan, Afghanistan and Pakistan, transforming the entire trade in the region.’
“Pakistan is fully committed to take steps in unison with other countries and extend support in this regard,” he emphasized.
The prime minister said that the host country had made strides in the development of mining and mineral exploration sector and Pakistan could take advantage from the Uzbek companies’ experiences and expertise.
He informed the gathering that the government had taken vital decisions to promote and facilitate investment in the mining and mineral exploration sectors in Pakistan.
The prime minister said Uzbekistan was also generating thousands of megawatts of renewable energy through different projects while Pakistan was blessed with abundant sunshine and possessed huge potential of solar and wind energy. It was another sector where both countries could come together, he added.
The prime minister also invited the Uzbek companies, entrepreneurs and business people to come and invest in special zones of Pakistan besides, urging the Pakistani businessmen to visit Uzbekistan and enter into different textile ventures offered to them because ‘it will be a win win situation’.
He said relaxation in visa facility would be made available to the businessmen and officials without any delay which would enhance their mutual cooperation and trade.
The prime minister cited tourism as another sector where both countries could boost their cooperation and investment.
He stressed upon the Pakistani and Uzbek tourists to visit the historical and cultural sites located in both countries including the serene beauty of northern areas of Pakistan where the joint ventures between the two countries could transform these areas.
Prime Minister Sharif said that he fully shared the holistic vision of President Shavkat Mirziyoyev and assured that government of Pakistan would support and promote the joint cause of both countries, adding the Special Investment Facilitation Council (SIFC) was a linchpin to connect the both sides.
He maintained that Gwadar and Karachi ports would serve as hub of transit trade between the two countries. NLC had already been transporting goods to Central Asian Republics via Afghanistan and Pakistan and Uzbekistan had agreed to join hands to form a joint company for transportation.
The prime minister termed his meetings with Uzbek sides as ‘meetings of hearts’ akin to two souls and one heart.’
Uzbek President Shavkat Mirziyoyev, in his speech, highlighted the greater business and investment opportunities for forging greater partnership and cooperation between the companies of two countries in diverse fields.
He said being a brotherly country, they were glad to see achievements made by Pakistan in realm of economic growth and prosperity and congratulated Prime Minister Shehbaz Sharif and his team on these achievements.
The president said that both countries shared ideas and cooperated at fora like the SCO and OIC, adding the foundation for a robust economic cooperation between the two countries already existed.
The Uzbek President said that they were keen to transform the bilateral mutual cooperation and partnership into a high level strategic partnership, adding major steps were being taken for the implementation in this regard by removing all the hurdles and addressing issues.
Assuring complete support and cooperation from the Uzbek side, he sought proposals from the Pakistani business community for cementing their partnership in wind and solar energy generation ventures.
He said that Uzbekistan wanted to share its experience in energy, mines, minerals exploration and textile sectors while their side was keen to benefit from Pakistani pharmaceutical companies.
He also referred to Uzbekistan, Afghanistan and Pakistan transit railway corridor project, expressing his confidence that it would increase their trade, making availability of commodities cheaper and easier.
The president reiterated that their inter-regional cooperation would be elevated to a new level.