GCCI President Highlights Uzbekistan's Trade Importance for Pakistan

The relationship between Pakistan and Uzbekistan has been steadily growing, with both nations recognizing the importance of enhancing their economic ties. Recently, the President of the Gujranwala Chamber of Commerce and Industry (GCCI), Rana Muhammad Siddique Khan, emphasized Uzbekistan's role as a vital trade partner for Pakistan. This statement comes at a time when both countries are looking to expand their bilateral trade and economic cooperation.

During a meeting held at the Embassy of Uzbekistan in Islamabad, President Khan and the Uzbek Ambassador to Pakistan, Alisher Tukhtaev, discussed various ways to promote economic relations. President Khan highlighted the significant contribution of Gujranwala's industrial sector, which accounts for eight percent of Pakistan's Gross Domestic Product (GDP). He noted that the city is a major player in the national economy, with exports reaching $2.5 billion.

Rana Muhammad Siddique Khan pointed out that there are approximately 18,000 small and medium entrepreneurs in Gujranwala, who are essential to the country's economic framework. He stated, "Uzbekistan is a central country among the Central Asian states, and Pakistan and Uzbekistan can play a very important role for economic integration in the region." This sentiment reflects a shared vision for economic prosperity that both nations aspire to achieve.

Despite the current trade volume of $400 million between Pakistan and Uzbekistan, President Khan believes there is significant potential for growth. He remarked, "The role of the business community of both countries is significant for the promotion of bilateral trade." The GCCI is already engaged in various business activities in Uzbekistan, and President Khan expressed his commitment to further enhance these efforts.

Moreover, the President acknowledged the support provided by the Uzbek Embassy, which facilitates visa processes and other business-related services for Gujranwala traders and industrialists. He also mentioned an upcoming exhibition in Islamabad, inviting the Uzbek trade delegation to participate, which could serve as a platform for fostering deeper business connections.

Ambassador Tukhtaev echoed these sentiments, recognizing the importance of the GCCI in strengthening economic ties between the two countries. He hinted at future cooperation and expressed his intention to visit the GCCI soon. This mutual interest in collaboration is a promising sign for the future of trade relations.

Historically, Pakistan and Uzbekistan have shared a long-standing relationship, with trade between the two nations increasing significantly in recent years. In 2022, Uzbekistan exported $134 million worth of goods to Pakistan, while Pakistan's exports to Uzbekistan reached $153 million. The primary exports from Uzbekistan included dried legumes, cotton yarn, and onions, whereas Pakistan primarily exported potatoes, rice, and packaged medicaments.

The ongoing discussions and initiatives between Pakistan and Uzbekistan signify a commitment to enhancing bilateral trade and economic cooperation. As both countries work towards realizing their potential, the role of the business community will be crucial in driving this partnership forward. The future looks promising, and with continued collaboration, both nations can achieve shared economic prosperity.