Uzbekistan and India agreed on 50 investment projects worth US$3 billion
29/09/2018 11:01
Uzbekistan and India agreed on 50 investment projects worth US$3 billion
29/09/2018 11:01
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and India agreed to implement 50 investment projects worth about US$3 billion.
At the invitation of the President of India Ram Nath Kovind, the President of the Republic of Uzbekistan Mr. Shavkat Mirziyev, will pay a state visit to India from September 30 to October 1 of this year.
On the occasion of this visit, as well as to contribute to the further development of trade, economic and investment cooperation between the countries, an Indian-Uzbek business forum was held in Delhi on 28 September 2018.
About 150 participants from the Uzbek side took part in the event, including heads of ministries and departments of the republic, regional and city khokimiyats, large national companies such as Uzavtosanoat, Uzbekenergo, Uzbekneftegaz, Uzmetkombinat, Uzstroymaterialy, Uzeltehsanoat, etc., as well as representatives of private business.
More than 150 representatives of large industrial enterprises and representatives of small and medium-sized businesses, who are members of such organizations as CII, MSME Development Forum, India-CIS and FICCI, attended the foreign party.
This forum is a continuation of the joint business forum that took place on August 6 in New Delhi and on August 16 of this year in Tashkent.
To date, Uzbekistan has 145 enterprises with Indian capital, including 21 enterprises with 100% Indian capital. The volume of bilateral trade in 2017 made up US$323.6 million.
Today Uzbekistan exports to India such goods as beans, balms, raw silk, earth metals, fertilizers, etc.
The main goods imported from India are mainly pharmaceutical, medical and food products, ferrous metals, various technological equipment, spare parts for cars.
Promising areas of cooperation between Uzbekistan and India are such areas as the pharmaceutical industry and health, tourism, including medical tourism, information and communication technologies, agriculture, development and extraction of mineral resources, including uranium, non-ferrous and rare metals, infrastructure projects and the construction of affordable housing.
Air communication between Uzbekistan and India every year is expanding, with the establishment of direct flights from Tashkent to New Delhi and Amritsar. Only in 2017 Uzbekistan received more than 10 thousand tourists from India. In order to intensify activities in the tourism sector, the issue of creating two more direct flights from Tashkent to Mumbai and Chennai is being developed.
As a result of the measures, the delegation of Uzbekistan reached an agreement on implementation of 50 investment projects worth about US$3 billion.
Also, within the framework of the business forum, the signing ceremony of the Agreement on establishment of the Business Council of India and Uzbekistan between the Confederation of Indian Industry and the Chamber of Commerce and Industry of Uzbekistan was held.
On 29 September, the solemn opening ceremony of the National Exhibition of Uzbekistan will be held, where stands will be presented with agricultural, fruit and vegetable, confectionery, food and alcohol products produced in the republic and presented by national companies and organizations of Uzbekistan.
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