PM Shehbaz invites Uzbek firms to invest in Pakistan

Islamabad:Prime Minister Shehbaz Sharif has invited Uzbek business firms to explore investment opportunities in Pakistan's textile, pharmaceutical, mining, agriculture, and tourism sectors.

He, along with Uzbek President Shavkat Mirziyoyev, was addressing the Pakistan-Uzbekistan Business Forum in Islamabad today.

Prime Minister expressed the hope that President Mirziyoyev's visit would go a long way to strengthen bilateral relations and convert them into a level of unprecedented economic cooperation.

Referring to the signing of two billion dollars trade protocol, he said that Pakistan-Uzbekistan relations would now be measured by trade flows, investment projects, industrial partnerships and people-to-people exchanges.

He said both countries would form a working group to come up with a roadmap of five years to promote trade, investment portfolio, and joint collaborations in research and development, IT, and agriculture.

In his remarks, the Uzbek President urged the business communities of both the countries to come forward to tap the full trade potential of the two countries.

He assured ten-year tax exemption to Pakistani businesses in addition to all possible facilitation.

He congratulated Prime Minister Shehbaz and the people of Pakistan on the remarkable economic progress with reduced inflation, single-digit interest rates, and strong recovery which he said provided excellent opportunities for deeper cooperation.

Later, the two leaders also witnessed the exchange of the documents of pre-signed MoUs between the business entities from both sides.