Pak-Uzbekistan B2B agreements worth $3.4 billion great milestone: RCCI

WNAM REPORT: Strengthening bilateral economic ties, Pakistan and Uzbekistan have taken a significant step forward in pharmaceutical cooperation with the signing of a Memorandum of Understanding (MoU) between business stakeholders of the two countries.
President of the Rawalpindi Chamber of Commerce and Industry (RCCI) and Chairman Pakistan Pharmaceutical Manufacturers Association (PPMA) North, Usman Shaukat, signed and exchanged the MoU with Mr. Abdulla Azizov, Director of the Agency for the Development of the Pharmaceutical Industry under the Ministry of Health of Uzbekistan.
The MoU signing ceremony was witnessed by Prime Minister Muhammad Shehbaz Sharif and President of Uzbekistan Shavkat Mirziyoyev during the Uzbek President’s official visit to Pakistan, underscoring the importance both governments attach to expanding trade and investment relations.
Terming President Shavkat Mirziyoyev’s visit and the MoU signing as a great milestone, Usman Shaukat said that the agreement would pave the way for enhanced collaboration in pharmaceutical manufacturing, technology transfer, joint ventures, and export of high-quality and affordable medicines. He emphasized that Pakistan’s pharmaceutical industry has the capacity, expertise, and regulatory strength to meet regional and international healthcare needs.
The MoU is part of a broader framework of Pakistan–Uzbekistan economic cooperation, under which B2B agreements worth approximately $3.4 billion have been inked, reflecting growing confidence of Uzbek counterparts in Pakistan’s private sector.
Speaking on the occasion, President Shavkat Mirziyoyev highlighted Uzbekistan’s keen interest in benefiting from Pakistan’s expertise in the pharmaceutical sector. He stated that Uzbekistan requires high-quality yet affordable medicines and considers Pakistan a reliable partner in this regard. To encourage investment, he announced 10-year tax exemptions, along with full government support and a range of conducive incentives for Pakistani pharmaceutical companies willing to invest and operate in Uzbekistan.