KARACHI, September 6. /Dunyo IA/. An Uzbekistan-Pakistan business forum was held in Karachi at the initiative of the Embassy of Uzbekistan, reports Dunyo IA correspondent.

The event brought together representatives of business circles cooperating with Uzbekistan, as well as executives of companies operating in the pharmaceutical, textile and agricultural sectors.

The forum was opened by Ambassador of Uzbekistan Alisher Tukhtaev. In his remarks, he outlined the economic reforms underway in Uzbekistan, measures to support the private sector, favourable conditions created for foreign investors, as well as the current state and prospects of trade and economic cooperation between the two countries.

It was emphasized that bilateral relations should go beyond traditional trade ties and focus on establishing joint production facilities, expanding technological cooperation, and jointly entering third-country markets.

The second part of the forum featured a presentation on Uzbekistan’s investment potential and opportunities available to foreign investors.

The presentation provided information on the country’s free economic and industrial zones, tax and customs incentives available to investors, mechanisms for allocating land plots, the raw material base, skilled workforce, as well as opportunities to access the markets of Central Asian and CIS countries.

Particular attention was paid to opportunities for joint investment projects in the pharmaceutical sector, including the production of medicines and medical devices; in the textile industry, including yarn, fabrics and finished garments; and in agriculture, covering the cultivation, processing, storage and packaging of agricultural products.

Participants received detailed answers from diplomats to questions concerning the procedures for registering foreign companies in Uzbekistan, allocating land plots for production, obtaining the necessary permits, freely transferring profits abroad, conducting banking transactions, and addressing transport and logistics issues.

Pakistani companies highly praised Uzbekistan’s investment climate and its potential for accessing regional markets, expressing interest in exploring specific project proposals and establishing direct contacts with local partners.