Spokesman Report
Islamabad: A Pakistani business delegation led by Ahsan Zafar Bakhtawari, Patron-in-Chief of the Azerbaijan-Pakistan Joint Chamber of Commerce and Industry and CEO of D. Watson Group, visited the Pharmaceutical Industry Development Agency of Uzbekistan to explore opportunities for cooperation in pharmaceuticals, medical supplies, healthcare services, research and investment.
Representatives of the Chamber of Commerce and Industry of Uzbekistan also attended the meeting, demonstrating the commitment of both sides to strengthening private-sector engagement and expanding economic relations between Pakistan and Uzbekistan.
Welcoming the delegation, Mirjalal, Chief Specialist at the Pharmaceutical Industry Development Agency,
informed the delegation that Uzbekistan’s market for medicines and medical devices was valued at approximately US$2.5 billion and said the country was working to strengthen its position as a major pharmaceutical manufacturing and investment hub in Central Asia.
He said the pharmaceutical sector had a portfolio of 32 investment projects and assured Pakistani companies interested in establishing manufacturing facilities or entering into joint ventures of the Agency’s full facilitation and support.
Mirjalal further stated that, 58 medicine-manufacturing companies in Uzbekistan held national Good Manufacturing Practice certificates, while pharmaceutical products produced in the country were being supplied to 55 international markets.
He also briefed the delegation on Uzbekistan’s investment policies, including the general corporate income-tax rate of 15 percent and the incentives available to qualifying investors in specialised pharmaceutical economic zones.
He highlighted the government’s efforts to develop modern research and manufacturing infrastructure, promote technology transfer, attract foreign investment and strengthen cooperation with international pharmaceutical companies, hospitals and healthcare institutions.
Speaking on the occasion, Saidnazirkhanov Saidkamil, Director of the Department of Foreign Economic Activity at the Chamber of Commerce and Industry of Uzbekistan, welcomed the Pakistani delegation and said Pakistan and Uzbekistan enjoyed close and strategic relations.
He said the Chamber regularly facilitated Pakistani business delegations and helped connect them with relevant companies, government institutions and business organisations in Uzbekistan. He described pharmaceuticals as one of the most promising areas of bilateral cooperation and said Uzbekistan could become an important market and investment destination for Pakistani pharmaceutical manufacturers.
Saidnazirkhanov assured the delegation that the Chamber of Commerce and Industry of Uzbekistan was ready to assist Pakistani companies in identifying suitable local partners, establishing commercial contacts and benefiting from the facilities available in the country’s free economic and specialised pharmaceutical zones.
He said there was considerable potential for cooperation in medicines, medical equipment and supplies, including injection needles and other healthcare products.
Speaking on the occasion, Ahsan Zafar Bakhtawari said Pakistan had a well-developed pharmaceutical industry with significant capacity to meet Uzbekistan’s growing demand for quality medicines, medical supplies and healthcare products. He said Uzbekistan offered strong potential for Pakistani investors due to its expanding domestic market, strategic location in Central Asia, investor-friendly policies and increasing focus on local pharmaceutical manufacturing.
Ahsan Zafar Bakhtawari expressed interest in exploring investment opportunities, joint ventures and the establishment of pharmaceutical manufacturing facilities in collaboration with Uzbek business partners.
He emphasised the need to establish institutional linkages between the Pharmaceutical Industry Development Agency, the Chamber of Commerce and Industry of Uzbekistan and relevant pharmaceutical associations, chambers and companies in Pakistan.
He said regular exchange of business delegations, market information and investment proposals would help transform the strong political relations between Pakistan and Uzbekistan into mutually beneficial economic and commercial partnerships.
Zafar Bakhtawari, Secretary General of the United Business Group-FPCCI, said closer cooperation between the private sectors of Pakistan and Uzbekistan was essential for increasing bilateral trade and investment in pharmaceuticals and other priority sectors. He proposed that the Chamber of Commerce and Industry of Uzbekistan establish formal cooperation with leading chambers of commerce and industry in Pakistan.
