Uzbek and Pakistani Chambers of Commerce and Industry agree on cooperation

Uzbekistan, Tashkent Nov 25 / Trend D. Azizov /

The Chamber of Commerce and Industry (CCI) of Uzbekistan and the Federation of Chambers of Commerce of Pakistan signed a memorandum on trade, economic, scientific and technical cooperation, the CCI Press Service reported on Friday.

The memorandum was signed following the results of a Tashkent business forum held on Thursday.

Heads of ministries and departments, head of companies and concerns of the two countries responsible for the economy, trade, investment, healthcare, pharmaceutical, chemical, food, textile, construction and engineering industries participated in the business forum.

The delegation was led by Senator Haji Gul Ali, President of the Federation of Pakistani Chambers of Commerce, and member of the National Assembly of Pakistan. Weave and Knit, Taimur Spinning, Syntex Pharma, Indus Pipe Mill Thatta Cement and other Pakistan companies participated in the Forum.

Pakistan pays special attention to cooperation with Uzbekistan, said Haji Gul Ali
According to Haji Gul Ali, Uzbekistan has all conditions to cooperate with foreign investors. Pakistani interest in cooperation with its Uzbek counterparts increases.

"We are particularly interested in expanding relationships in small business and entrepreneurship," Haji Gul Ali said.

Alisher Shaykhov, Chairman of the Commerce and Industry of Uzbekistan, told about the development of cooperation between Uzbekistan and Pakistan in the fields of trade, economy, and investments
Aagreements on avoidance of double taxation and preventing fiscal evasion on income and capital, mutual promotion and protection of investments, cooperation in investment and customs areas are the legal basis of Uzbek-Pakistani economic and trade and investment ties.
There are 68 joint ventures with Pakistani investors in Uzbekistan Representative offices of ten Pakistani firms and companies are opened.

Pakistani businessmen were informed of priority directions of attracting investments into Uzbekistan's economy during the forum. The guests were informed about the ongoing privatization process in the country, reforms in the economy, and small business and entrepreneurship development.

The sides discussed issues of developing trade, economic and investment cooperation between the two countries, and implementing joint projects in the free trade zone Navoi.

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