JOIN USUzbekistan invites Indian companies to explore JVs in 7 pharmacological free zones
In what could boost Covid-19 vaccine production, Uzbekistan has invited Indian companies to explore joint-venture opportunities in its seven pharmacological free economic zones.
This opens up an opportunity for Indian firms to explore joint manufacturing and development of new vaccines with their peers in Uzbekistan.
“Special attention is given to the implementation of joint projects with Indian companies in Uzbekistan's free economic zones, including seven pharmacological FEZs,” said Dilshod Akhatov, the Ambassador of the central Asian country in India, on Monday at an interactive meeting held at MVIRDC World Trade Center, Mumbai.
Apart from the pharmaceutical sector, Indian companies have also been invited to invest in chemicals, textiles, leather, information technology and telecommunication sectors in the country.
Dilshod also expressed hope about collaboration to promote connectivity between the central and south Asian region at the forthcoming international conference on "Central and South Asia: Regional Connectivity - Challenges and Opportunities", which is scheduled at Tashkent in July.
He welcomed the Indian government’s proposal to open air corridors to central Asian countries for transportation of fruits and vegetables, food and other agricultural products from Tashkent and other aviation hubs of Uzbekistan.
According to Uzbek experts, charter cargo flights for transporting fruits, vegetables, food and agriculture products to India are possible, he said.
Speaking at the interactive session, Vijay Kalantri, Honorary Consul of the Republic of Uzbekistan in India, said both countries had last year agreed to implement 50 investment projects worth 3 billion US dollars. India had also opened a credit line of 448 million US dollars for four development projects in Uzbekistan, including road construction, wastewater treatment and information technology.
“So far, there are over 280 companies of Indian origin operating in Uzbekistan and joint projects worth over 650 million US dollars were being realized,” Kalantri, who is also the Chairman of MVIRDC World Trade Center Mumbai, said, lamenting the fact that the bilateral trade between the two countries was at a low level of 442.6 million US dollars in 2020 and called for sustained efforts to promote mutual trade and investments.