October 24, 2019
Plethora of opportunities for bi-lateral trade with Uzbekistan: PHD Chamber
PHD Chamber of Commerce and Industry in its continuous endeavour of strengthening the ties with CIS region and particularly Uzbekistan, organized an interactive session with high level multi-sectoral delegation at PHD house, New Delhi on 23rd October 2019. Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, while welcoming the delegation from Uzbekistan, said that India is one of the major investment partners for Uzbekistan, with great potential in foreign investment. India has shared cordial diplomatic relations and a fruitful bilateral trade with Uzbekistan in the past and we would urge the Indian industries to strive towards enhancing its business cooperation with companies in Uzbekistan through effective joint ventures & technology transfers, added Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry.
Uzbekistan is coming up as an important market globally in various sectors like Healthcare, Pharmaceuticals, Energy, Tourism, Communication, Engineering, Textiles, IT, amongst others. The delegation was jointly led by Hon’ble Mr. Botirjon Nurillaev, Deputy Governor of Samarkand, Hon’ble Mr. Bakhtiyor Makhsudov, Deputy Governor of Bukhara city, and Hon’ble Mr Temur Davletov, Deputy Governor of Khorezm. They were accompanied by officials from the local Chamber of Commerce, government representatives from the departments of Tourism, Economy & Industry and the Embassy of Uzbekistan in New Delhi.
Currently, India-Uzbekistan bilateral trade stands at US$ 328 million. In order to strengthen the strategic partnership, India and Uzbekistan have set an annual bilateral trade target of US$ 1 billion to be achieved by 2020.