The 12th meeting of the Uzbek-Indian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation was held

On December 3 of this year, 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.

The meeting was chaired by the First Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan L. Kudratov and the Deputy Minister of Trade and Industry of the Republic of India Bidut Behari Swain.

During the meeting, the sides discussed the current state and prospects for further strengthening bilateral cooperation in 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.

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 fields 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.

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.