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- October 19, 202614°
- BIST10011,722-2.89%
- USD49.45+0.05%
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- INTEREST37.00%-1.00
- BITCOIN81,646+0.32%
- October 19, 202614°
Mirziyoyev and Modi agree to raise trade to $5 billion by 2030
Uzbek President Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi met on August 30 at the Kuksaroy Presidential Residence in Tashkent. The leaders agreed to increase trade between the two countries to $5 billion by 2030.
Uzbekistan and India have decided to increase bilateral trade to $5 billion by 2030 as they take political-diplomatic and economic relations to a new level. The agreement was reached during a meeting between Uzbek President Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi on August 30 at the Kuksaroy Presidential Residence in Tashkent.
The meeting focused on deepening the strategic partnership and multifaceted cooperation between the two countries. At the beginning of the meeting, Modi congratulated Mirziyoyev on Uzbekistan’s Independence Day and wished the Uzbek people peace, prosperity and well-being. The leaders said that ongoing contacts at various levels were continuing productively.
New trade and industrial target
Trade between Uzbekistan and India exceeded $1 billion for the first time last year. The number of joint ventures has increased sevenfold in recent years, while the two countries now have 14 direct flights each week.
The sides agreed to take the necessary steps to significantly expand trade. Strengthening industrial cooperation and implementing new joint projects were also among the topics discussed at the meeting.
Opportunities for cooperation with leading Indian companies in energy, electrical engineering, metallurgy, critical minerals, healthcare, pharmaceuticals, agriculture and jewelry were assessed. It was also noted that educational cooperation had expanded, with four Indian universities operating in Uzbekistan.
Regional and international coordination
The partnership ties between Andijan Region and Gujarat, Fergana Region and Haryana, and Samarkand Region and Agra were said to be strengthening regional cooperation.
The sides decided to institutionalize cultural days, concerts, exhibitions, forums and film festivals to develop cultural and humanitarian relations. The signing of a five-year Cultural Exchange Program was planned as part of the visit.
Mirziyoyev and Modi also exchanged views on issues on the international and regional agenda. They emphasized the need to mutually support initiatives within the United Nations, the Shanghai Cooperation Organisation, BRICS and other international organizations.
New mechanism and road maps
In addition to political contacts, the sides agreed to increase exchanges through interparliamentary friendship groups, the Intergovernmental Commission and the Business Council. The establishment of a new coordination mechanism at the level of the heads of foreign affairs institutions was envisaged.
Ministry and institution heads will be instructed to advance joint projects and programs. Road maps will be prepared for each priority area, including responsible implementers, timelines and specific mechanisms.
Modi receives state decoration
Following the meeting, Narendra Modi was presented with the Republic of Uzbekistan’s state decoration, “Oliy Darajali Do'stlik.” Mirziyoyev said the decoration reflected respect for Modi’s contribution to strengthening the bonds of friendship between the two peoples.
Mirziyoyev announced that, following the visit and talks, the sides had agreed to elevate relations between Uzbekistan and India to the level of a comprehensive strategic partnership. He said political-diplomatic, trade and economic, investment, transport, and cultural and humanitarian relations had reached a new level.
The Uzbek President said he believed that the multifaceted and long-term relations between the two countries would continue to develop dynamically through their shared goals and efforts.
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