Pakistan and Uzbekistan on Thursday agreed to increase bilateral trade to $2 billion within the next five years, as Pakistan Prime Minister Shehbaz Sharif and Uzbek President Shavkat Mirziyoyev signed a protocol to deepen economic and trade ties between the two nations.
The protocol was finalized on the opening day of President Mirziyoyev’s two-day state visit to Pakistan. Under the agreement, the two sides will form a joint working group to develop a five-year action plan, outlining priority areas to boost trade, investment, and wider economic collaboration.
The agreement follows discussions between the two leaders in Tashkent weeks earlier, where both leaders had agreed on the same trade target.
According to official statements, Pakistan and Uzbekistan signed 28 memoranda of understanding (MoUs) and agreements, with 20 of them exchanged in the presence of both leaders.
The accords span a range of sectors, including defense, agriculture, climate action, mining and geosciences, information technology, pharmaceuticals, sports, education, and counter-narcotics.
To further enhance trade ties, the two nations signed a protocol to broaden the range of products covered by the Preferential Trade Agreement and agreed to set up a Pakistan-Uzbekistan Interregional Forum aimed at boosting regional and business-to-business collaboration.
The two sides also signed an MoU on maritime cooperation to support trade through preferential access to the ports of Karachi, Gwadar, and Port Qasim. In defense, Pakistan and Uzbekistan approved an action plan for cooperation, along with a separate agreement to combat illicit drug and psychotropic substance trafficking.
In technology and industry, the countries agreed to collaborate on digital infrastructure, innovation, industrial development, SMEs, and academic and research exchanges.
Prime Minister Shehbaz hailed the protocol as a ‘game changer’ and said quarterly reviews would be conducted to track progress on the five-year plan. Meanwhile, President Mirziyoyev said Pakistan is Uzbekistan’s trusted and long-standing partner in South Asia, describing the agreements as a strong foundation for long-term cooperation.
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