SIALKOT, July 8. /Dunyo IA/.  An Uzbek delegation led by the Chairman of the Council of Ministers of the Republic of Karakalpakstan Farhod Ermanov and Ambassador Alisher Tukhtaev has visited the city of Sialkot in Pakistan, a major industrial hub concentrating prominent companies specialized in the manufacturing of sports equipment, reports Dunyo IA correspondent.

Within the framework of the visit, official negotiations were convened with Sayyid Rahim Hussain, Director of “Leather Ware” Jahangir Iqbal, Chairman of “Silver Star” and Tahir Nadim, Chief Executive Officer of “Wembley Sports LTD”.

The sides were provided with comprehensive briefings detailing the investment potential of Karakalpakstan, the exceptionally favourable business conditions engineered for foreign investors, active tax and customs exemptions, alongside strategic opportunities for the implementation of industrial projects.

During the negotiations, it was noted that a high demand for sports equipment persists within the republic. Specifically, to fulfil the requirements of general education schools and preschool educational institutions, approximately 500,000 footballs are required annually.

In this regard, the sides discussed opportunities to organize joint manufacturing lines within the territory of Karakalpakstan, aiming to increase localization levels, produce import-substituting goods and expand export potential.

Pakistani companies were also presented with specific proposals regarding the relocation of manufacturing capacities to Karakalpakstan and the establishment of a joint venture. The Uzbek side declared its full readiness to allocate a land plot for the project’s execution and completely provide the enterprise with the necessary engineering and communications infrastructure.

Furthermore, it was emphasized that organizing production in Uzbekistan would allow the utilization of highly advantageous logistical opportunities, enabling the export of products to Russia and other regional markets duty-free, based on active agreements between the CIS member states.

Executives of the Pakistani companies highly appraised the conditions engineered for investors in Karakalpakstan and confirmed their readiness to thoroughly study the presented proposals to advance mutually beneficial cooperation.

Following the conclusion of the meeting, an agreement was reached to organize a visit of delegations from “Leather Ware” and “Silver Star” to Karakalpakstan in order to transition the discussed initiatives into a practical dimension.