The Minister of Investment, Industry and Trade of the Republic of Uzbekistan held talks with the Minister of Finance and Corporate Affairs of the Republic of India

On the eve of Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, held talks with Sitharaman Nirmala, Minister of Finance and Corporate Affairs of the Republic of India, the press service of the MIIT reports.

During the conversation, the current state and prospects of building up trade, economic and investment partnership with India were discussed.

Over the past five years, the volume of mutual trade has doubled to $756 million by the end of 2023. Since the beginning of the year, there has been an increase of another 30%. Since 2019, the number of joint ventures has grown almost 2.5 times to 317 units. Since the beginning of the year alone, 51 new enterprises with the participation of Indian capital have been launched in our country.

The parties agreed on a number of mutual measures to intensify the process of obtaining phytosanitary permits for 6 additional types of agricultural products grown in Uzbekistan, attracting preferential loans from the Indian Eximbank to finance social projects.

In a separate order, the prospects of attracting large Indian companies to Uzbekistan in the fields of information technology, pharmaceuticals, medicine, light industry and education were considered.

Following the meeting, the parties agreed on the dates of the next meeting of the Joint Intergovernmental Commission, at which signing of a “Joint Program” is planned providing for the implementation of all discussed projects and initiatives.