The Uzbek Ambassador to Pakistan, Oybek Arif Usmanov, hosted the seminar titled “Uzbekistan and Pakistan Economic Development and Business Opportunities.” The participants discussed the prevailing economic indicators of both the countries, evaluated a comprehensive mechanism to solve the persisting economic problems through mutual cooperation and devised mechanism to mutually confront economic issues in future through intensive economic interactions.

The Uzbek Envoy, in his inaugurating speech, observed that both Pakistan and Uzbekistan enjoyed very cordial cultural affinities and diplomatic ties. He said that the presence of Pakistani businessmen in Uzbekistan, which according to him, had been doubled in the last few years, had embarked upon new ventures in diverse productive fields such as textile, leather, sports goods, silk, plastmass processing and local indigenous industry.

The Uzbek Ambassador delivered a presentation on the book “The global financial-economic crisis, ways and measures to overcome it in the conditions of Uzbekistan,” authored by Uzbek President Islam Karimov.

The book implies to assess the prevailing global crises objectively. In addition, the book deals with different aspects of global crisis and support of banking system, in two parts.

The Uzbek Envoy viewed that the President’s book was a true reflection of prevailing challenges and issues. “This book provides a deep insight into the grim economic problems that we face today and discuss their solutions,” he maintained.

Uzbek Deputy Head of Mission Dr Ismatulla Fayzulla delivered a presentation on “Business opportunities in Uzbekistan,” in which he highlighted the important features of Uzbek business environment. He opined that Uzbekistan offered ideal conditions for foreign investment.

The documentary film “Dynamic Uzbekistan was aired during the occasion. The film unveiled the extravagant aspects of Uzbek society, culture and living conditions.

The other speakers at the seminars included senior officials of Ministries of Economic Affairs, Commerce and researchers from private research organisations. The participants discussed the prevalent economic indicators that were responsible for the downslide in Pakistan’s economy like inflation, debacle in industrial sector, water and power crisis and urged on forging collective mechanism to tackle the problems.

Senator Talha Mehmood concluded the event by paying gratitude to Uzbek Envoy for arranging a thought provoking seminar and hoped that the government would benefit from the expertise of Pakistan’s time-tested Uzbek friends.