Uzbekistan, India ink contracts, agreements worth $150M
Tashkent, Uzbekistan, Aug. 24
By Demir Azizov – Trend:
Twenty-two contracts, worth more than $80 million, and 20 investment agreements, worth over $70 million, have been signed between Uzbekistan and India, said the press service of Uzbek Foreign Ministry in a message.
The agreements were signed during the visit of Uzbekistan’s delegation to India and the Uzbek-Indian business forum with participation of the two countries’ businessmen, according to the message.
It was previously reported that an Uzbek delegation led by Foreign Minister Abdulaziz Kamilov paid an official visit to India on Aug. 21-23.
Addressing the business forum, Uzbekistan’s Foreign Minister Abdulaziz Kamilov noted that, Uzbekistan attaches great importance to the expansion of trade, economic and investment cooperation with India.
He recalled that, during the meeting between Uzbekistan’s President Shavkat Mirziyoyev and India’s Prime Minister Narendra Modi on the sidelines of the SCO summit in Astana in 2017, the sides had reached agreements on taking concrete measures on the fundamental improvement and amplification of relations in all spheres.
The minister added that business circles of Uzbekistan and India should champion this process.
Over the past five years, the Uzbek-Indian trade turnover increased by more than twofold and reached $370 million in late 2016, moreover, totaled at $166.5 million in 1H17. Currently, 101 enterprises operate with participation of Indian companies in Uzbekistan, including those which have a 100-percent Indian capital.
Uzbekistan had stated that its companies and enterprises are ready to export a wide range of goods to the Indian market. Meanwhile, Uzbekistan is interested in further attracting Indian hi-tech companies to the implementation of joint projects to organize the production of demanded final industrial products.