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Shri EVKS Elangovan, Minister of State for Commerce and Industry called for increased trade between India and Uzbekistan especially in the areas of manufacturing, auto components, information technology and food processing sectors. The Minister said this when a trade delegation led by Ms. Abdullaeva, Deputy Chairperson of the Agency of Foreign Economic Relations of Uzbekistan called on him here this evening.
Shri Elangovan emphasized the need for having joint ventures between the two countries in the fields of textiles, food processing and dairy products. “Uzbekistan is a producer of finest cotton and with India’s expertise in textile machinery, the two countries can reap immense benefits” the Minister said. He pointed out that India’s bilateral trade with Uzbekistan is about US $ 42.84 million, which is far less than the existing potential. India is a leading supplier of pharmaceuticals and medical equipments to Uzbekistan. To improve the cooperation in this sector, CHEMEXIL (Basic Chemicals, Pharmaceuticals and allied products Export Promotion Council) is organizing its first Indo- CIS (Commonwealth of Independent States) Health summit at Hyderabad later this month to showcase India’s capabilities in Ayurvedic medicines, biotechnology and health services sector. The Minister also called for addressing the Visa problems faced by business visitors to Uzbekistan in the interest of bilateral trade.
Shri Elangovan had led a trade delegation to Uzbekistan, last month and had inaugurated the 5th session of Indo- Uzbek Joint Commission meeting at Tashkent. The Uzbek delegation will explore the possibilities of increasing bilateral economic cooperation and to discuss issues concerning lines of credit extended by India. They will also have meetings with the EXIM bank, MMTC STC and leading Export Promotion Councils.
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