Pakistan and Uzbekistan Set $2b Trade Target, Sign 28 Major Agreements to Boost Economic Ties
ISLAMABAD – In a historic move to deepen regional integration, Pakistan and Uzbekistan have set an ambitious bilateral trade target of $2 billion. The announcement came during Uzbek President Shavkat Mirziyoyev’s landmark state visit to Islamabad, where he met with Prime Minister Shehbaz Sharif to sign a joint declaration and 28 key agreements aimed at accelerating economic cooperation.
Expanding Trade and Investment Horizons
The high-level talks resulted in a comprehensive roadmap to enhance annual trade to $2 billion over the next five years. To achieve this Pakistan-Uzbekistan trade target, both nations signed a protocol to expand the Preferential Trade Agreement (PTA), adding more than 40 product categories from each country. This move is expected to significantly boost bilateral commerce in textiles, pharmaceuticals, and agriculture.
The 28 Signed Agreements: A Multi-Sectoral Approach
The memorandums of understanding (MoUs) and agreements signed during the visit cover a broad spectrum of sectors, including foreign affairs, defense, climate change, information technology, science and education, mining, and counter-narcotics. Notably, the establishment of a Pakistan-Uzbekistan Inter-Regional Forum aims to foster direct business-to-business engagement and private sector collaboration.
The Trans-Afghan Railway Corridor
Regional connectivity was a central theme of the discussions. Both nations emphasized the strategic importance of the Trans-Afghan railway corridor, a project expected to revolutionize trade routes. Once completed, the railway will reduce cargo transit time between Uzbekistan and Pakistan from 35 days to just three to five days, slashing logistics costs by up to 40%. Initially designed to handle three million tons of cargo annually, the corridor has the potential to scale up to 20 million tons, offering a major boost to regional trade.
Recognizing Uzbekistan’s landlocked status, a key agreement on maritime cooperation was signed. This grants Uzbekistan preferential port access at Karachi, Gwadar, and Port Qasim, providing landlocked Central Asia with vital sea routes. Furthermore, Pakistani investment in Uzbekistan has surged, reaching $70 million in 2025, supporting approximately 230 joint ventures. A business forum co-chaired by both leaders unveiled a project portfolio worth $3.5 billion.
The business community on both sides has welcomed the development. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), called for a revival of the historic Silk Route to meet the trade targets. Sardar Tahir Khan, President of the Islamabad Chamber of Commerce and Industry, expressed confidence that the strategic geographic locations of both countries position them as central players in fostering regional economic integration.
With discussions also covering direct flight operations between major cities and collaboration in digital technologies and artificial intelligence, the visit by President Mirziyoyev signals a new era in Pakistan-Uzbekistan relations, anchored firmly in connectivity and shared economic growth. (Sajid Ali Zaidi)
