Chief Editor: Ansar Mahmood Bhatti

Pakistan has lucrative business climate, minister tells Uzbek delegation

Rawalpindi: The Rawalpindi Chamber of Commerce and Industry (RCCI) has organized Pak-Uzbek networking session at a local hotel in Rawalpindi on Wednesday. Minister of State for Finance Rana Muhammad Afzal was the chief guest on the occasion. Khodjaev  Jamshid Minister of Foreign Trade of Uzbekistan also attended the session who was heading a ten member trade delegation including Shamil Burnashev Deputy Chairman of the State Committee of Uzbekistan on Investments ,  Adham Ikramov Chairman of CCI of Uzbekistan, Bahadir Alihanov  Deputy Chairman of the Association “Uztextile Industry” Oybek Mirzabekov Acting Chairman of JSC “Uzsanoatexport” (export of chemicals), among others.

Addressing the networking session, Minister of state Rana Afzal said Pakistan offers promising investment opportunities and Government has introduced lucrative incentive to attract foreign investment. Hala food, tourism, leather, Textile and pharmaceutical are the key areas where investors can make joint ventures. The China Pakistan Economic Corridor now offering vast range of rail and road network to connect Pakistan with central Asian republics. There is a need to strengthen trade ties between the two countries. He lauded RCCI efforts in promoting trade activities in the country and the region through exhibitions and business opportunity conferences. He said chambers are playing vital role in promoting trade activities in the country. He said servicing sector is growing and investors can take benefit of Pakistani skilled labor in services sector including banking, insurance and leasing.

He said that energy shortage has been overcome and gradually we are lowering the per unit price of electricity to attract local and foreign investors.

Addressing the session Khodjaev  Jamshid Minister of Foreign Trade of Uzbekistan thanked RCCI for inviting for the session and B2B meeting and urge Pakistani investors to opt joint ventures with Uzbek. He said the trade volume is very low and there is need to increase the trade ties in different sector including Pharmaceutical, Agriculture, leather and textile. Adham Ikramov Chairman of CCI of Uzbekistan who signed Memorandum of understanding with RCCI said that the major aim of this MOU was to promote trade ties through exchange of trade delegates and exhibitions on reciprocal basis.

Earlier RCCI Chief Zahid Latif Khan In his address said Central Asia is a big market and Pakistan should explore new trade avenues in this region. It is the hour of need to explore the new trade avenues, business opportunities between Pakistan and Central Asia.  CPEC offers great regional connectivity and integration from South Asia, Central Asian countries and beyond,” he added.

RCCI President apprised the Uzbek trade delegation about the current and upcoming activities of the Rawalpindi chamber.

Group Leader Suhail Altaf in his address said that we should transformed political relations into economic relations and demanded that PIA should start direct flights between Islamabad and Tashkent.