Pakistan, Uzbekistan sign multiple agreements, establish strategic council to strengthen cooperation

Pakistan, Uzbekistan sign multiple agreements, establish strategic council to strengthen cooperation
Prime Minister Shehbaz Sharif and Uzbek President Shavkat Mirziyoyev witness the MOUs and Agreements exchange ceremony between Pakistan and Uzbekistan in Tashkent on February 26, 2025. (PMO)
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Updated 26 February 2025

Pakistan, Uzbekistan sign multiple agreements, establish strategic council to strengthen cooperation

Pakistan, Uzbekistan sign multiple agreements, establish strategic council to strengthen cooperation
  • Leaders vow that bilateral trade, which currently exceeds $400 million, would be increased to reach $2 billion
  • Under strategic council, ministries and relevant bodies will report monthly on implementation of projects

ISLAMABAD: Pakistan and Uzbekistan on Wednesday signed a joint declaration to establish a High-Level Strategic Council aimed at strengthening economic, diplomatic and security cooperation, as Prime Minister Shehbaz Sharif met Uzbek President Shavkat Mirziyoyev during a state visit to Tashkent.
Sharif landed in Tashkent late Tuesday following a visit to Baku, during which multiple agreements were signed to enhance cooperation in trade, energy, tourism and education, among other sectors.
Pakistan is seeking to leverage its strategic position as a key trade and transit hub to connect the landlocked Central Asian republics to the global market. Since last year, there has been a flurry of high-level visits, investment discussions and other economic engagements between Pakistan and the Central Asian states.
On Wednesday, Sharif arrived at the Congress Center in Tashkent, where he was received by the Uzbek president. The two leaders jointly oversaw the signing of multiple memoranda of understanding (MoUs) covering trade, technology, security, youth affairs and media cooperation.
“This historic visit is an important event that will open a new chapter in the expansion of our strategic partnership,” Mirziyoyev said after the signing of the agreements, vowing to increase bilateral trade, which currently exceeds $400 million, to $2 billion.




A photo of Prime Minister Shehbaz Sharif and Uzbek President Shavkat Mirziyoyev during the Pakistani prime minister's visit to Tashkent on February 26, 2025. (Photo courtesy: PMO)

“We have also decided to establish a High-Level Strategic Council ... Once in two months we will have calls by mobile phones. Once a month, all the ministries and relative bodies will report to us in the online format on the implementations of the instructions and measures.”
He said the council would evaluate challenges to bilateral cooperation and work to address them.
Speaking about the status of economic ties, he said there were at least 130 joint ventures between the two nations while more trade houses had been opened in Karachi and Tashkent.
An intergovernmental commission was “working effectively” while many political consultations, business events and exhibitions of national products had been successfully organized, and more were in the works.
“The chairperson of Uzbek central bank will go to Pak and his counterpart will come here. We will resolve any possible challenges,” the Uzbek leader said.
Mirziyoyev said he had also held detailed discussions with Sharif on regional connectivity with a focus on the trans-Afghan rail service aimed at linking the three countries.
“We are planning to increase the trade turnover to $2 billion and we will increase the industrial cooperation, develop the transport and logistic connections, we will create favorable conditions and incentives for the entrepreneurs and that was the main topic for our discussions today,” the Uzbek president said.
“And regarding the pharmaceuticals, textiles, leather industry, agriculture, honorable Prime Minister [Shehbaz Sharif] also made the proposals on the energy, geology, and the mining spheres, to develop those industries and to have regional cooperation and access to third countries.”
While air travel had already been launched between Tashkent and Lahore, the number of flights would be increased and new routes introduced connecting Samarkand and Bukhara to Karachi, Mirziyoyev added.


Speaking at the occasion, Sharif said the two leaders had discussed and decided on “a joint way forward in economic terms.”
“We will explore joint projects such as the Afghan railway connectivity, which will be a game-changer not only for Pakistan and Uzbekistan but for the entire region,” he said, adding that they had also discussed cooperation in mining and minerals, the potential for investment in each other’s economic zones, and the expansion of trade.
“We will also expand tourism, allowing people from Peshawar, Quetta, Karachi, and Lahore to visit Bukhara and Samarkand, while the people of Uzbekistan will also come to visit the historic sites in Pakistan,” Sharif said.
“I look forward to increasing flight connectivity between Tashkent, Lahore, Karachi, and other cities, to facilitate greater interaction and cooperation between our nations. Through industry, investment, agriculture, trade, and culture, we will strengthen our ties and build on the roots of our shared history.”
Among the MoUs signed was one for cooperation between news agencies, and others on youth affairs, science and visa-free travel.
Sharif and Mirziyoyev are also scheduled to participate in a Pakistan-Uzbekistan Joint Business Forum after their bilateral meeting, while the Pakistani prime minister will visit the Tashkent-based Technopark, where he will tour Uzbekistan’s industrial manufacturing units.
Uzbekistan is the largest consumer market and the second-biggest economy in Central Asia. It is central to Pakistan’s regional connectivity plans and was the first Central Asian nation with which Pakistani officials signed a bilateral Transit Trade Agreement (UPTTA) and a Preferential Trade Agreement (PTA) covering 17 items.
A landmark moment in the relationship was the signing of the Joint Declaration on the Establishment of a Strategic Partnership during a high-level Pakistani visit to Uzbekistan on July 15-16, 2021. This was followed by President Shavkat Mirziyoyev’s visit to Pakistan on March 3-4, 2022, which resulted in the signing of another Joint Declaration on Further Steps to Enhance the Strategic Partnership and multiple agreements covering trade, investment, and economic cooperation.
In February 2023, Pakistan and Uzbekistan signed a $1 billion trade deal to enhance bilateral commerce, facilitating the exchange of goods and services.
Last month, Uzbekistan’s Ambassador to Pakistan, Alisher Tukhtaev, announced plans to launch direct flights between Uzbekistan and Pakistan’s southern port city of Karachi. Uzbekistan and Pakistan are also working toward optimizing cargo flows, green corridors at border customs points, and digitalization of customs clearance processes to facilitate smoother trade operations.


Pakistan stock market breaches 133,000 points barrier as investors turn to equities

Pakistan stock market breaches 133,000 points barrier as investors turn to equities
Updated 33 sec ago

Pakistan stock market breaches 133,000 points barrier as investors turn to equities

Pakistan stock market breaches 133,000 points barrier as investors turn to equities
  • Benchmark KSE-100 Index rises by 1,907.53 points or 1.45 percent to reach 133,856.79 points during intraday trading
  • Stock market responding to Pakistan’s improving macroeconomic indicators, easing regional tensions, says analyst

KARACHI: The benchmark KSE-100 crossed the 133,000 points barrier during intra-day trading on Monday to hit a record high, according to data shared by the Pakistan Stock Exchange (PSX), with a financial analyst attributing the rally to investors shifting from fixed income funds toward equities, and the country’s improving macroeconomic conditions. 

The benchmark KSE-100 index rose by 1,907.53 points or 1.45 percent to reach 133,856.59 points at 12:31 p.m. from the previous day’s close of 131,949.06 points, according to the PSX website. 

Pakistan’s state broadcaster said the stock market’s upward trend reflects the business community’s growing confidence in the government’s economic policies.

“The top-most factor contributing to market rally is conversion of fixed income funds to equities,” Shankar Talreja, head of research at Karachi-based brokerage company Topline Securities, told Arab News. 

“Stocks generating over nine percent of the dividend yield have contributed most to the index rally,” he continued, “This is because this dividend yield matches the fixed income rate and any capital gain on these stocks would be cherry on the top.”

He noted that the market has been responding to improving macroeconomic indicators, adding that the State Bank of Pakistan’s reserves climbed to $14.5 billion at the end of June.

“The regional and geopolitical issues also subsided last month which has further given confidence to local investors,” Talreja added, referring to the Pakistan-India, Iran-Israel armed conflicts.

“We expect the index to touch 160,000 by June 2026.”

The development comes after the PSX breached the 130,000 points barrier last week to close at an all-time high, with experts attributing the surge to low inflation and surging crude oil prices. 

Pakistan’s stocks have surged as Islamabad moves to consolidate its financial recovery after years of economic turbulence. In recent years, the country has implemented tough structural reforms under International Monetary Fund loan programs aimed at reducing fiscal deficits and restoring investor confidence.


Pakistan building collapse site cleared with 27 dead

Pakistan building collapse site cleared with 27 dead
Updated 57 min 17 sec ago

Pakistan building collapse site cleared with 27 dead

Pakistan building collapse site cleared with 27 dead
  • Apartment block in Karachi’s impoverished Lyari neighborhood collapsed on Friday morning
  • Authorities say building was declared unsafe, eviction notices sent to occupants between 2022, 2024

KARACHI: Pakistan rescuers have concluded a three day-long rescue operation, recovering 27 bodies from a building that collapsed in the mega port city of Karachi, officials said on Monday.

Residents reported hearing cracking sounds shortly before the apartment block crumbled around 10:00 am on Friday in Karachi’s impoverished Lyari neighborhood, which was once plagued by gang violence and considered one of the most dangerous areas in Pakistan.

“All the bodies trapped under the debris have been recovered, so the search operation has been called off,” the top government official in the district, Javed Nabi Khoso, told AFP.

“The total death toll stands at 27 people.”

Authorities said the building had been declared unsafe and eviction notices were sent to occupants between 2022 and 2024, but landlords and some residents told AFP they had not received them.

Twenty of the victims were Hindus, according to Sundeep Maheshewari, an activist in the minority community.

“Most of the families are very poor,” he told AFP.

Government official Khoso said that five out of more than 50 more dangerous buildings in his district have been evacuated since Saturday.

“The operation has been initiated and will continue until all such buildings are evacuated,” he said.

Roof and building collapses are common across Pakistan, mainly because of poor safety standards and shoddy construction materials in the South Asian country of more than 240 million people.

But Karachi, home to more than 20 million, is especially notorious for poor construction, illegal extensions, aging infrastructure, overcrowding, and lax enforcement of building regulations.


Pakistan’s seafood exports jump 20.5 percent in FY25, highlighting Arabian Sea potential

Pakistan’s seafood exports jump 20.5 percent in FY25, highlighting Arabian Sea potential
Updated 24 min 19 sec ago

Pakistan’s seafood exports jump 20.5 percent in FY25, highlighting Arabian Sea potential

Pakistan’s seafood exports jump 20.5 percent in FY25, highlighting Arabian Sea potential
  • China top list of Pakistani seafood importers with 99,238 metric tons, UAE, and Indonesia key markets
  • Pakistan’s seafood export value to European Union surged by 44.4 percent to $13 million, says maritime affairs ministry

KARACHI: Pakistan’s seafood exports rose by 20.5 percent during the last fiscal year, with China and Thailand among the largest buyers worldwide, the maritime affairs ministry said on Monday, highlighting the Arabian Sea’s potential to boost the country’s exports. 

Pakistan has the potential to become a major exporter of seafood as it possesses a coastline of more than 1,000 kilometers along the Arabian Sea and is also home to several species such as shrimp, tuna, mackerel and crab. 

Pakistan’s maritime affairs ministry released its annual report on seafood exports’ progress for the fiscal year 2024-25 on Monday, attributing the surge to the government’s policies and regulations. 

“Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry announced that Pakistan’s seafood exports reached a remarkable $489.2 million in the fiscal year 2024–25, marking a 20.5 percent increase from the previous year’s $406 million,” the maritime affairs ministry said. 

The report said that fish meal led the seafood exports surge with 79,090 metric tons valued at $160 million, followed by frozen fish ($103.11 million), shrimps ($61.4 million), crabs ($29.68 million) and mackerels ($23 million). Other exported species included sole, jellyfish, skates and eels.

China retained its position as the top importer of Pakistani seafood, buying over 99,238 metric tons worth $186 million while Thailand followed as the second-largest destination, importing seafood valued at $105.7 million.

“Other key markets included the UAE, Malaysia, Japan, South Korea, Kuwait, , Vietnam, and Indonesia— reflecting Pakistan’s wide and diversified global outreach,” the report said. 

He said exploring new international markets and improving Pakistan’s seafood export infrastructure are among the government’s top priorities, adding that modern regulations, monitoring and certification systems boosted exports.

“We are strengthening ties with the private sector to promote exports,” Chaudhry said. “Pakistan’s seafood products are becoming increasingly attractive to international buyers.”

The report also said Pakistan’s seafood export value to the European Union surged by 44.4 percent to $13 million. Chaudhry noted that this shift points to Pakistan’s strategic focus on premium, high-value seafood products tailored to EU preferences where quality and sustainability increasingly influence demand.

“The fiscal year 2024–25 stands as a landmark for Pakistan’s fisheries industry, with solid achievements in both quantity and value,” it said. “These gains not only strengthen the national economy but also underline Pakistan’s readiness to meet evolving global demands through sustainable and quality-driven practices.”

The development takes place amid the government’s announcement that it is pursuing sustainable economic growth driven by exports and long-term fiscal reforms. Pakistan has been trying to escape a prolonged economic crisis that has drained its resources and triggered a balance of payments crisis for the country. 


Toll hits 72 in under two weeks as monsoon rains, flash floods inundate Pakistan

Toll hits 72 in under two weeks as monsoon rains, flash floods inundate Pakistan
Updated 07 July 2025

Toll hits 72 in under two weeks as monsoon rains, flash floods inundate Pakistan

Toll hits 72 in under two weeks as monsoon rains, flash floods inundate Pakistan
  • Pakistan’s disaster management authority warns of more heavy rains, potential floods till July 10
  • Khyber Pakhtunkhwa reports highest number of deaths, 28, Punjab 22, Sindh 15 and Balochistan seven

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) has warned of more downpours and flash floods across the country until July 10, with heavy rains killing at least 72 and injuring 130 in less than two weeks. 

In a press release issued on Sunday, the NDMA warned that the ongoing monsoon season is likely to trigger heavy rains and potential flooding in several parts until July 10. It said that flooding and increased water levels are expected in streams and rivers across Punjab, Sindh, Balochistan, Khyber Pakhtunkhwa, Azad Kashmir and Gilgit-Baltistan regions.

“Rivers including Chenab, Jhelum, Indus, Kabul, and Hunza may experience surges, with minor flooding expected at Marala and Qadirabad,” the NDMA report said. 

As per the disaster management authority’s latest situation report, at least 72 people have been killed and 130 injured across the country due to rain-related incidents since June 26. Khyber Pakhtunkhwa (KP) has reported the highest number of deaths, 28, while 22 people have been killed in Punjab, 15 in Sindh and seven in Balochistan. 

Punjab reported 66 people injured from rain-related incidents, Sindh 34, KP 23, Azad Kashmir four and Balochistan three since June 26. The report said at least 161 houses had been damaged so far while 91 livestock had perished since June 26. 

The NDMA said 233 people were rescued in total, with the highest number of people rescued in KP, 115, Sindh 42, Punjab 31, Gilgit-Baltistan 25, Islamabad 15 and Balochistan five. 

Pakistan, home to over 240 million people, is consistently ranked among the countries most vulnerable to climate change. In 2022, record-breaking monsoon rains and glacier melt caused catastrophic floods that affected 33 million people and killed more than 1,700. The South Asian country has been the victim of irregular weather patterns recently that have ranged from heatwaves to droughts and torrential rains. 

Surging temperatures in the country’s mountainous north, especially in Gilgit-Baltistan, have accelerated glacier melt, compounding the risk of sudden floods and landslides in narrow valleys and near vulnerable glacial lakes.

The NDMA advises the public to stay indoors during thunderstorms, avoid unnecessary travel and keep children away from electricity poles and waterlogged areas.


Pakistan, China set strategic roadmap to deepen tourism, cultural cooperation

Pakistan, China set strategic roadmap to deepen tourism, cultural cooperation
Updated 07 July 2025

Pakistan, China set strategic roadmap to deepen tourism, cultural cooperation

Pakistan, China set strategic roadmap to deepen tourism, cultural cooperation
  • Islamabad, Beijing agree to launch joint projects to restore, preserve and digitally document their historical landmarks
  • Both sides to strengthen museum development partnerships, organize series of cultural delegations and film festivals

ISLAMABAD: Pakistan’s Culture Minister Huzaifa Rehman agreed to enhance tourism collaboration and advance cultural diplomacy in a meeting with his Chinese counterpart, Gao Zheng, in Beijing recently, Pakistani state media reported. 

Pakistan, home to several snow-capped peaks in the Himalayan and Karakorum mountain ranges and ancient archaeological sites such as Mohenjo-Daro and Taxila, has immense potential for tourism.

Islamabad has recently pushed to promote its tourist spots to visitors worldwide by establishing air and land links with Central Asian republics and signing agreements to boost tourism with regional allies. Pakistan hopes tourism will help the country earn valuable foreign exchange whilst it grapples with a prolonged macroeconomic crisis. 

Rehman met his Chinese counterpart Zheng in Beijing on Sunday, during which the two sides discussed advancing collaboration in tourism and other areas, state-run Associated Press of Pakistan (APP) said. 

“The two leaders reaffirmed their commitment to advancing cultural diplomacy, enhancing tourism collaboration, and restoring shared heritage sites between Pakistan and China,” APP said in a report on Sunday. 

Rehman expressed gratitude for China’s friendship and support to Pakistan, the report added.

The two sides discussed and agreed on launching joint projects to restore, preserve and digitally document historical landmarks in both countries. They also agreed to strengthen museum development partnerships and organize a series of cultural delegations, art exhibitions and film festivals.

They agreed on implementing training programs in museology and professional development for museum staff, while rolling out collaborative tourism campaigns and policy initiatives to boost visitor flows and cultural exploration, the APP report said. 

The Chinese minister formally invited Rehman to attend the upcoming International Museum Conference scheduled to be held in China in September, which the Pakistani official accepted. 

“This landmark meeting paves the way for actionable steps in the near future, setting a strategic roadmap for Pakistan–China cultural partnership and mutual heritage conservation,” the report said. 

Apart from being a regional ally, China is also a major investor in Pakistan. Beijing has invested in a multi-billion-dollar project, the China-Pakistan Economic Corridor (CPEC), that connects the two countries through a network of highways, railways and pipelines.

Since its initiation in 2013, CPEC has seen tens of billions of dollars funneled into massive transport, energy and infrastructure projects in Pakistan.