Business Forum "Republic of Karakalpakstan – Punjab" Held in Lahore

A business forum titled "Republic of Karakalpakstan – Punjab" was held in Lahore, the administrative center of Pakistan's Punjab Province.

The event was organized as part of the working visit to Pakistan by the Uzbek delegation led by Farhod Ermanov, Chairman of the Council of Ministers of the Republic of Karakalpakstan, and Alisher Tukhtaev, Ambassador of Uzbekistan to Pakistan.

The forum took place at the Punjab Chamber of Commerce and Industry and brought together more than 50 representatives of leading companies and business circles operating in the chemical industry, livestock farming, textile, leather and footwear manufacturing, construction materials production, and other sectors of the economy.

Opening the forum, Ambassador of Uzbekistan Alisher Tukhtaev noted that the strategic partnership between Uzbekistan and Pakistan, which has been steadily strengthening in recent years, provides a solid foundation for enhancing interregional cooperation.

He emphasized that expanding trade, economic, investment, and industrial cooperation between the Republic of Karakalpakstan and Punjab Province, implementing joint manufacturing projects, and strengthening collaboration in logistics and transportation are of mutual interest to both sides.

In his address, Farhod Ermanov, Chairman of the Council of Ministers of the Republic of Karakalpakstan, presented the region's economic potential, abundant natural resources, favorable investment climate, and the extensive opportunities created for foreign investors.

It was noted that Karakalpakstan is implementing a number of promising projects aimed at diversifying industry, producing export-oriented goods, developing value-added production chains, and introducing modern technologies. In this regard, representatives of Pakistan's business community were invited to invest in the region, establish joint ventures, and implement mutually beneficial projects.

Farhod Ermanov also invited entrepreneurs from Punjab Province to visit the Republic of Karakalpakstan on a business mission scheduled for July this year.

During the forum, a presentation showcased the trade, economic, investment, and tourism potential of the Republic of Karakalpakstan. Participants were introduced to the incentives available to foreign investors in the region's free economic and industrial zones, including tax and customs benefits, as well as promising investment projects in the pharmaceutical, agriculture, food processing, textile, leather and footwear, and construction materials industries.

The business forum also featured bilateral G2B and B2B meetings involving representatives of government institutions and the private sector. As a result of these discussions, the parties reached a number of agreements aimed at expanding trade and economic cooperation, strengthening industrial collaboration, and implementing joint investment projects.

The forum concluded with the signing of a Memorandum of Understanding between the Republic of Karakalpakstan and Punjab Province. The memorandum is intended to promote investment, expand trade and economic ties, increase bilateral trade, and further strengthen business cooperation.