Uzbekistan, India mull interaction in pharmaceutic, chemical industries

Business Materials 22 February 2018 20:23 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Nigar Guliyeva – Trend:

Uzbekistan and India have mulled ways of expanding interaction in pharmaceutic and chemical industries, the Commerce and Industry Chamber of Uzbekistan said in a message Feb. 22.

The issue was discussed at an Uzbek-Indian business forum held in Tashkent and aimed at promoting the establishment and expansion of trade ties between entrepreneurs from the two countries and increasing number of new joint ventures.

It was noted that Uzbekistan attaches great importance to expanding trade, economic and investment cooperation with India, establishing closer relations between business circles, attracting new Indian companies to participate in production projects in the country.

Last year, during the visit of an Uzbek delegation to India and following a business forum there, 22 contracts worth more than $80 million as well as 20 investment agreements worth over $70 million were signed.

In 2017, Uzbek-Indian trade turnover amounted to $323.6 million. Fruit and vegetable products, transport and tourism services, nitrogen fertilizers, vegetable juices and extracts, vehicles and their parts, raw silk, leather raw materials prevail in the export of Uzbek goods.

India mainly exports to Uzbekistan pharmaceutical products as well as mechanical and electrical equipment, spare parts for cars, transport and tourism services, optical devices, chemical products, organic chemicals, rubber and rubber products, and tobacco raw materials.