Pakistan and Uzbekistan have set an ambitious target of increasing their annual bilateral trade to $2 billion within the next five years. The target reflects growing economic cooperation between the two countries and their efforts to expand investment, business links and regional connectivity.
Uzbekistan’s Ambassador to Pakistan Alisher Tukhtaev said the $2 billion target had been agreed by the leadership of both countries. He made the remarks at a reception in Islamabad marking the 35th anniversary of Uzbekistan’s independence.
The event was attended by Energy Minister Sardar Awais Ahmad Khan Leghari, senior government officials and diplomats. Tukhtaev said both countries were working to build stronger economic relations and create more opportunities for businesses and investors.
The ambassador highlighted the establishment of the High Level Council of Strategic Partnership as an important step in strengthening bilateral ties. He also pointed to the signing of 30 bilateral agreements during Uzbek President Shavkat Mirziyoyev’s state visit to Pakistan.
Pakistan and Uzbekistan are also working to increase business contacts and investment projects. Both sides are seeking to expand trade houses and improve banking links to make commercial transactions easier for companies in both countries.
Bilateral trade has grown significantly in recent years. Trade between the two countries reached more than $400 million in 2024, while both sides have since outlined plans to raise the figure substantially.
Connectivity is also becoming an important part of the economic relationship. Regular passenger flights currently connect Tashkent with Islamabad and Lahore, while cargo services have also been introduced.
Additional routes, including Karachi, are expected to further improve air connectivity between Pakistan and Uzbekistan. Flight frequency is expected to reach nine flights per week by October 2026.
Tukhtaev also highlighted the Uzbekistan-Afghanistan-Pakistan railway project as a potentially transformative regional initiative. The proposed railway could strengthen trade links between Central Asia and Pakistan while improving access to wider regional markets.
The project is also viewed as an important part of efforts to connect Central and South Asia through improved transport and logistics networks. A feasibility study for the Trans-Afghan Railway is expected to support further progress on the initiative.
Both countries are increasingly focusing on trade, investment, transport and banking cooperation. The $2 billion target is expected to provide a clear direction for expanding economic ties over the next five years.
The growing partnership could also create new opportunities for Pakistani and Uzbek businesses in sectors including agriculture, textiles, pharmaceuticals, technology and logistics.
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