Uzbek-Indian business forum

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February 25, 2018

Uzbek-Indian business forum

Uzbek-Indian business forum was held within the framework of the visit to Uzbekistan of the delegation led by the State Minister of Chemicals and Fertilizers of India Mansukh Mandaviya. 

The event, organized jointly by the Chamber of Commerce and Industry of Uzbekistan and the Agency for Development of Pharmaceutical Industry of the Ministry of Health, was attended by heads of companies of the two countries working in the pharmaceutical and chemical industries.

Chairman of the Chamber of Commerce and Industry of Uzbekistan A.Ikromov, State Minister of Chemicals and Fertilizers of India M.Mandaviya and others noted that the mutual relations of the two countries are rooted in the depth of history, based on the principles of mutual interest and practical cooperation and are now consistently developing in various spheres.

A joint statement on the Strategic Partnership signed between our countries, the results of the meeting of the President of Uzbekistan Shavkat Mirziyoyev with Prime Minister of India Narendra Modi on the margins of the SCO summit held in Astana in 2017 contribute to further development of cooperation in the political, trade, cultural and humanitarian spheres.

At present, close cooperation has been established between the two states in the spheres of healthcare, pharmaceuticals, tourism, agriculture, and food industry.

Uzbekistan exports agricultural products, transport and tourism services, juices and plant extracts, leather raw materials to India. India exports products of pharmaceutical and chemical industry, mechanical and electronic equipment, spare parts for cars to Uzbekistan. In 2017, the volume of mutual trade exceeded $323 million.

There are more than 100 enterprises organized with participation of Indian entrepreneurs in Uzbekistan. In particular, such joint ventures as Kuramax Medical, Novapharm, Bravo Pharm, Ultra Healthcare are established in the pharmaceutical industry. Representatives of 16 Indian companies are accredited in Uzbekistan.

Within the framework of the forum, guests were given information about the liberalization of production in Uzbekistan, further development of pharmaceutical industry, free and small industrial zones, tax privileges created in them, and others. Representatives of the pharmaceutical and chemical companies of India got thoroughly acquainted with the potential of Uzbekistan in this field.

There are more than 1100 species of medicinal plants in Uzbekistan. More than 1400 types of medicines are produced from them. Scientists are working on creation of new medicines. This serves to increasing, expanding and improving production of domestic medicines.

At the event, the sides discussed issues on enhancing relations in pharmaceutical and chemical industries, developing trade, economic and investment cooperation, broad involvement of Indian companies in privatization process in Uzbekistan.