The volume of trade between Uzbekistan and India doubled over the past five years, according to a statement from the press service of the Government of Uzbekistan. This information was shared during a joint business forum held in Uzbekistan's Tashkent on September 27, which featured participation from 100 leaders of major enterprises and representatives from various governmental agencies.
Uzbekistan's Deputy Prime Minister, Jamshid Khojaev, indicated that trade between the two nations reached $800mn last year, reflecting a 30% increase compared to the previous year.
Earlier, Daryo reported that reported that India and Uzbekistan formalized a Bilateral Investment Treaty (BIT), as confirmed by the Indian Ministry of Finance. The BIT aims to establish predictability and transparency in investment activities between the two countries.
It creates a framework that ensures equal treatment for entrepreneurs from both Uzbekistan and India, protecting them against expropriation and discrimination. Additionally, the treaty allows investors to seek compensation for any losses incurred.
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