National Bank to Open Branch in Uzbekistan as Bilateral Trade Deepens
Islamabad – Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, chaired the high-level 8th Review Session of Pakistan–Uzbekistan Cooperation. The meeting was attended by the Ambassador of Uzbekistan, Alisher Takhtayev, as well as senior representatives from the federal and provincial governments, the SIFC, the business community, and diplomatic missions. The session opened with a mutual commitment to further strengthen the shared history, cultural linkages, and strategic partnership between the two brotherly countries.
During the meeting, both sides held comprehensive discussions on expanding bilateral cooperation in key sectors including textiles, pharmaceuticals, surgical instruments, mining and information technology. In line with the vision of Prime Minister Shehbaz Sharif, Pakistan is accelerating its efforts to achieve the target of USD 2 billion in bilateral trade with Uzbekistan. The Uzbek Ambassador reaffirmed his country’s resolve to deepen regional integration, stating that connecting the markets of Central and South Asia remains a central objective for both nations.
Pharmaceutical sector collaboration emerged as a critical area of focus. Uzbek representatives appreciated Pakistan’s pharmaceutical capabilities and noted that Uzbekistan’s Pharma Park model is impressive and could be replicated in Pakistan. The issue of slow certification of Pakistani medicines in Uzbekistan was raised by pharmaceutical stakeholders. In response, Mr. Haroon Akhtar Khan assured that the certification process would be expedited. He further announced the formation of a joint committee comprising DRAP, the Pakistan Pharmaceutical Association, and Uzbek regulatory authorities to fast-track solutions to pharma-related challenges.
Aviation connectivity was another significant point of discussion. The Uzbek Ambassador expressed interest in initiating direct flights from Karachi to Uzbekistan, highlighting the potential for enhanced trade and tourism. Mr. Haroon Akhtar Khan emphasized that Pakistan–Uzbekistan air links are essential for unlocking commercial and travel opportunities and noted that Uzbekistan could serve as a new gateway for travel between the Gulf region and Europe. He added that the Prime Minister has issued clear instructions to commence direct flights at the earliest and urged Pakistani airlines to play an active role in this initiative.
The meeting also underscored the urgent need to strengthen banking cooperation between the two countries. The Uzbek side pointed out that existing banking barriers are affecting trade transactions, while Pakistan reiterated that financial integration is essential to sustaining economic cooperation. Representatives of the State Bank of Pakistan assured that banking challenges would soon be resolved and shared that several Pakistani banks are ready to facilitate bilateral trade. SAPM Haroon Akhtar Khan announced that the National Bank of Pakistan will open a branch in Uzbekistan, enabling smoother financial operations for businesses on both sides.
Highlighting the importance of provincial participation, Mr. Haroon Akhtar Khan noted that the Prime Minister has directed that provincial governments be included in all joint projects with Uzbekistan. He urged provincial industries departments to actively capitalize on these emerging opportunities and leverage joint ventures for regional prosperity. The session also emphasized the significance of expanding land and railway connectivity between Pakistan and Central Asian states. The SAPM stated that Pakistan is taking concrete steps to position itself as a regional trade hub and reiterated that the Trans-Afghan Railway Project will prove to be a game-changer for the entire region.
The meeting concluded with a review of potential collaboration in the minerals sector and directives for all joint working groups to present detailed progress reports at the next session. The leadership of both countries reaffirmed their shared commitment to advancing economic cooperation, regional connectivity, and long-term strategic partnership.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
