Uzbek-India to hold hands tight in Gujarat

New Delhi, 15 January 2019

Uzbekistan will become the first country partner of the Vibrant Gujarat International Investment Summit. President of Uzbekistan Shavkat Mirziyoyev will be attending the event in Gujarat on 18-20 January 2019 as the special guest of Prime Minister Narendra Modi.

President of Uzbekistan Shavkat Mirziyoyev

President Mirziyoyev has announced 2019 as the year for investment in Uzbekistan and has opened the doors. This event will act as a catalyst for good relations, Uzbek delegation which includes heads of Investment Committee, Trade Committee, Chamber of Commerce, Ministry of Foreign Affairs along with more than 60 business owners, CEOs of biggest national and private companies of Uzbekistan to showcase its potential to engage Indian businessmen, which mainly looking forward to pharmaceutical, textile, education, IT and tourism; for investing in Uzbekistan, which is highly resourced with nature’s gifts.

 

This partnership is likely to increase cooperation between the two countries in various directions – trade, bilateral, investment and a sense of cognizance for each other. The visit of Uzbek President includes high-level bilateral talks and business meetings; trade show will display the capabilities of industries including automobile, metallurgy, pharmaceutical, construction, IT, banking, textile and leather, machinery, food processing, tourism, education and others; country seminar on the second day to focus on the Free Pharmaceutical Zone and the first meeting of Uzbekistan-India Business Council append to which this is the second visit of the president to India in last four month, he visited India in October last year.  

The country has made major reforms to increase foreign attraction with economic liberalization, rapid political reforms, ease for Foreign Direct Investment, Free Pharmaceutical Zone in the Andijan region for Indian Investment, increased connectivity via direct flight between Tashkent and Mumbai, which was launched last year. Uzbekistan has also worked with foreign investment banks to widen the possibilities for better economic and social connection. The country already has 18 free economic zones (FEZ) have been established with a 30-year operational life and the possibility of a subsequent extension and seven of them with pharmaceutical focus.

The event also holds the first Uzbekistan-India Business council which was announced in October last year during the visit of President Mirziyoyev to improve trade and investment, business alliances and possibilities of direct a collaboration between companies from both the countries in various sectors.

Mohit Srivastava

News Desk, Diplomacytoday.in