Uzbekistan to expand bilateral relations with India

Business Materials 15 July 2020 15:36 (UTC +04:00)
Uzbekistan to expand bilateral relations with India

BAKU, Azerbaijan, July 15

By Ilkin Seyfaddini - Trend:

Governments of Uzbekistan and India may sign preferential trade agreement, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan.

Deputy Prime Minister of Uzbekistan Sardor Umurzakov met with Ambassador of India in Uzbekistan Shri Santosh Jha.

During the meeting, the two sides reached an agreement to intensify negotiations on draft agreements on preferential trade and on promotion and mutual protection of investments between Uzbekistan and India.

Possibilities of expanding the scope of financial and technical cooperation between the two nations by expanding the credit line of India's Eximbank to finance socially significant projects in Uzbekistan have been discussed.

During the meeting, positive trends in investment partnership have been noted - following the results of 2019, the growth of direct Indian investments in the economy of Uzbekistan has made 17 percent due to a significant increase in the number of Indian enterprises operating in Uzbekistan.

At the end of 2019 the dynamics of trade turnover demonstrated the growth of 24.1 percent.

Following the talks, on behalf of the Government of Uzbekistan, Santosh Jha was expressed gratitude for an invaluable contribution to the development of Uzbek-Indian relations, and conveyed wishes for a successful work in the new position of Ambassador of India to Belgium, concurrently with his accreditation as Ambassador to the EU.

Earlier, Santosh Jha said that nowadays India-Uzbekistan bilateral relations encompass a wider canvas, including political and strategic issues, defense and security, trade and investment, energy, agriculture, science and technology, education and people-to-people ties.


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