The Eighth Session of the Uzbek-Indian Intergovernmental Commission (IC) was held in Delhi where prospects for further expansion and deepening of business collaboration between Uzbekistan and India were discussed.

Within session negotiations, participants have discussed the issues of a vital importance in the sphere of trade and economy. The parties have prepared a blueprint for their prompt implementation.

IC Participants have made a special note to a role of the “Spentex Industries” company that had pioneered the promotion of Indian capital and technologies to textile industry of Uzbekistan. Furthermore, activity of “Minda” - another large-scale Indian company was mentioned. The company cooperates with "UzDaewooAuto" in maintenance of spare parts and consumables for "Nexia" and "Matiz" vehicles.

The sides have emphasized the friendly relations connecting Uzbek and Indian peoples, which have deep historical roots. They say that Uzbekistan and India posses significant strategic potential for multilateral cooperation in political, economic and cultural spheres basis of which was laid down by President Islam Karimov of Uzbekistan and Prime Minister Dr. Manmohan Singh of India in the framework of their summits.

Presentation of economic potential and favorable investment climate created in Uzbekistan for foreign businessmen was held in Indian chambers of commerce and industry under the IC.

Mr. M.Chaudhari, president of “Spentex Industries” company successfully working in Uzbekistan, when touching upon the factors assisting to a favorable and long-term business in Uzbekistan, said: “The main reason is that the Uzbek Government pays a special attention to creating favorable investment climate for foreign businessmen and hence constantly improves legislative basis responding to demands of times. The free-of-taxation mode of trade between the CIS countries plays a central part hereto, being a specially important for foreign entrepreneurs. He has also noted the aspect of high skilled labour force available in Uzbekistan..

Following the session of the Uzbek-Indian Intergovernmental Commission, the Protocol on trade-economic and scientific-technical cooperation was signed.