1st India-Uzbekistan National Coordination Committee meeting held

The first meeting of the National Coordination Committees for monitoring implementation of mutually agreed projects between India and the Central Asian nation Uzbekistan has concluded.

What are the discussions made in the meeting?

• Both nations reexamined the activities of bilateral economic and trade cooperation which are in operation or planned for the future.
• The discussions also focused on the status of negotiations for concluding a Bilateral Investment Treaty, Preferential Trade Agreement, joint market access for agricultural outcome, verified project implementation under India’s Lines of Credit, LoC projects, cooperation between Gujarat and Andijan (Uzbekistan), and the Tashkent based India-Uzbekistan Entrepreneurship Development Centre.

What is the National Coordination Committee?

The Committee was set up under the supervision of the Prime Minister of India Narendra Modi and President of Uzbekistan Shavkat Mirziyoyev. The objective of the committee is to conduct discussions and implementation of various mutually agreed projects.

India-Uzbekistan

• India and Uzbekistan have a bilateral trade agreement turnover of more than 300 million USD.
• India’s Pharmaceuticals is a key area for trade and investment.
• The automobile and hospitality industry also plays a significant role in trade.
• Medical tourism to India showed an increasing trend.
• Both countries jointly set up a Joint IT Centre and IT Park.

Month: Current Affairs - August, 2020