Uzbekistan keen for joint ventures, investment in Pakistan

ISLAMABAD, Sep 5 (APP): A 10-member delegation of Uzbekistan on Monday showed keen interest for joint ventures and investment in Pakistan.
Uzbekistan was quite rich in natural resources including copper and gold and Pakistan could get good benefits for its economy by enhancing cooperation with Uzbekistan.
This was stated by Nodir Atajanov, Deputy Chairman, Uz Agro Sanoatmash Holding during his visit to Islamabad Chamber of Commerce & Industry (ICCI) here.
The delegation was representing various sectors including agriculture machinery, power production, chemical and petrochemical industry, automobiles, building and plastic material.
Nodir Atajanov said the purpose of Uzbek delegation’s visit to Pakistan was to explore possibilities of joint ventures and investment in areas of interest.
He hoped their visit to Pakistan would open up many new avenues of cooperation between the two countries. The delegation members gave a detailed presentation of their products.
In his welcome address, Atif Ikram Sheikh, President, ICCI said,the bilateral trade of about US$ 24 million between Pakistan and Uzbekistan was quite low and serious efforts from both sides were needed to improve it.
He said agriculture, textile, energy, exploration of mineral resources, chemicals, pharmaceutical, tourism and many other areas offered good potential of mutual cooperation between Pakistan and Uzbekistan.
Atif Ikram said, CPEC offered great investment opportunities to foreign investors and added that the participation of Uzbek investors in this historic project would contribute to regional development and prosperity.
He stressed that Pakistan and Uzbekistan should focus on establishing direct railway and air links that would go a long way in improving trade activities and people to people contacts.
The President, ICCI, said the geographical locations of both countries offered them win-win situation as Pakistan provided shortest land route to Uzbekistan to get better access to South Asia, Middle East and other countries while Pakistan could get easy access to Central Asia by promoting close relations with Uzbekistan.
He was hopeful that the visit of Uzbek delegation to Pakistan and its interaction with private sector would help in identifying many new areas of mutual cooperation between the two countries.