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India and Uzbekistan Co-chaired the First National Coordination Committee Meeting: Discussed on Trade and Investment

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India,-Uzbekistan-co-chair-first-National-Coordination-Committee-meet_-discuss-trade,-investmentOn 24th August 2020, V Muraleedharan, Minister of State(MoS) for External Affairs, Government of India and Sardor Umurzakov, Deputy Prime Minister for Investments and Foregin Economic Relations, Uzbekistan co-chaired the first National Coordination Committee Meeting over a virtual platform.

  • Issues on bilateral interests like, Line of Credit(LoC) projects, bilateral trade and investments were discussed during the meeting.
  • The works of the committee will strengthen the strategic relations between India and Uzbekistan.

India and Uzbekistan:

i.The bilateral trade turnover of India and Uzbekistan is over 300 million USD.

ii.The major trade and investment by India is in the field of Pharmaceuticals.

iii.Indian Companies in the fields of pharmaceuticals, amusement parks, automobile components and hospitality industry are the major Indian investment in Uzbekistan.

iv.A Joint Centre by India and Uzbekistan for Information technology was established in 2006, which was upgraded in 2014.

v.In July 2019, an IT park was inaugurated in Tashkent which was established with Indian assistance.

Note:

India’s Medical tourism has sharply increased in the past few years.

Recent Related News:

i.The 14th Joint Economic and Trade Committee (JETCO) meeting 2020 was held virtually for the first time amid COVID-19 between India and United Kingdom (UK),

ii.The 4th edition of international meeting named “Ministerial on Climate Action (MoCA)” was was co-chaired by European Union (EU), China and Canada.

About Uzbekistan:
President– Shavkat Mirziyoyev
Prime Minister- Abdulla Aripov 
Capital– Tashkent
Currency– Uzbekistani soʻm