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Uzbekistan and India signed 98 investment and trade agreements worth $ 2.3 billion

On August 24 this year, the first meeting of Uzbekistan – Indian Committee for Coordination and Promotion of Practical Implementation of Bilateral Agreements was held via videoconference. The meeting was co-chaired by the First Deputy Minister of Foreign Affairs F. Arziyev from the Uzbek side and the Minister of State for External Affairs V. Muraleedharan from the Indian side. 

The event was attended by representatives of the Ministry of Investments and Foreign Trade, the Ministry of Foreign Affairs and the hokimiyat of Andijan region of Uzbekistan, as well as representatives of India’s Ministry of Finance, the Ministry of Commerce and Industry, the Ministry of External Affairs, the Department of Agriculture, Cooperation and Farmers Welfare and the General Administration Department of the Government of Gujarat.

Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov addressed the meeting. He outlined the role of the Committee in the effective promotion of joint projects and initiatives, emphasized priorities for further interaction between the parties.

The current state and prospects for further strengthening bilateral cooperation in trade, economic, investment, transport and logistics spheres, as well as measures taken by the governments of the two countries to mitigate the economic consequences of the global crisis caused by the coronavirus pandemic were discussed at the meeting.

The parties discussed issues related to the implementation of joint projects in agriculture, pharmaceuticals, healthcare, education and infrastructure development. As noted, 98 investment and trade agreements were signed for $2.3 billion within the framework of bilateral cooperation.

Further steps were considered to accelerate the preparation and signing of the Agreement on Encouragement and Reciprocal Protection of Investments and the Agreement on Preferential Trade.

Following the event, an agreement was reached to take additional practical measures to ensure the qualitative and timely implementation of bilateral agreements, as well as to hold the next meeting of the Committee in the 4th quarter this year.