Uzbekistan and India hold the 12th meeting of the intergovernmental commission on trade, economic, scientific and technical cooperation
04/12/2020 13:58
Uzbekistan and India hold the 12th meeting of the intergovernmental commission on trade, economic, scientific and technical cooperation
04/12/2020 13:58
Tashkent, Uzbekistan (UzDaily.com) -- On 3 December 2020, the 12th meeting of the Uzbek-Indian Intergovernmental Commission (IGC) on trade, economic, scientific and technical cooperation was held in the format of a video conference. This was reported by the press service of the Ministry of Investment and Foreign Trade.
The meeting was chaired by the First Deputy Minister of Investments and Foreign Trade of the Republic of Uzbekistan Laziz Kudratov and the Deputy Minister of Trade and Industry of the Republic of India Bidut Behari Swain.
During the meeting, the current state and prospects for further strengthening bilateral cooperation in the trade, economic, investment and transport and logistics spheres, as well as measures taken by the governments of the two countries to mitigate the economic consequences of the global crisis associated with the pandemic, were discussed.
The parties noted with satisfaction the observed trends in the expansion of investment and trade and economic cooperation - in 2019, the volume of attracted Indian investments increased by 17%, and the trade turnover increased by 24%. It was also emphasized that due to successful cooperation with leading companies in India, including Cadila Pharmaceuticals Ltd, Minerva Worldof Knowledge, Lake City Township, Metric Ventures, over the past 4 years, the number of enterprises in Uzbekistan with the participation of Indian capital increased from 86 to 267 units.
During the event and exchange of views on key issues on the agenda, a firm commitment was expressed on both sides to expanding multifaceted interaction in the areas of healthcare, pharmaceuticals, agriculture, energy, information and communication technologies, light industry, as well as in the banking and financial sector.
It was noted that the efficiently functioning IGC mechanism contributes to accelerating the practical implementation of agreements reached during the events at the highest level, as well as the development of new directions for a special strategic partnership between India and Uzbekistan and filling the bilateral agenda with practical content.
During the meeting, agreements were reached on the accelerated start of financing 41 projects in the areas of health care, primary, secondary and higher education, implemented at the expense of Indian grant funds, and the launch of a number of projects for the development of infrastructure and social sphere, co-financed by the Eximbank of India.
It was also agreed to hold the 1st meeting of the Uzbek-Indian-Iranian joint working group in the second half of 2020, dedicated to the discussion of issues related to the use of the port "Chahbahar", and considered mechanisms to accelerate the signing of an agreement between the Governments of the Republic of Uzbekistan and the Republic of India on encouraging and mutual protection of investments.
As a result of the event, the protocol of the 12th meeting of the Uzbek-Indian Intergovernmental Commission on Trade and Economic Cooperation was signed, which reflected the agreements reached during the event and key areas for further deepening the multifaceted partnership between the two states.
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