Uzbekistan invites Indian companies to explore JVs in 7 pharmacological free zones

Uzbekistan has invited Indian companies to explore joint-venture opportunities in seven pharmacological free economic zones, said His Excellency Dilshod Akhatov, Ambassador of the Central Asian country in India, Monday.

This opens space for Serum Institute, Bharat Biotech and other Indian vaccine makers to explore joint manufacturing and development of new vaccines with their peers in Uzbekistan.

“Special attention is given to the implementation of joint projects with Indian companies in Uzbekistan's free economic zones, including seven pharmacological FEZs,” said Ambassador Dilshod at an interactive meeting held at MVIRDC World Trade Center Mumbai.

Apart from pharmaceutical sector, he also invited Indian companies to invest in chemicals, textiles, leather, information technology and telecommunication sectors in the Central Asian country.

Ambassador Dilshod also expressed hope about collaboration to promote connectivity between Central and South Asian region at the forthcoming international conference on "Central and South Asia: Regional Connectivity - Challenges and Opportunities", which is scheduled at Tashkent in July.

His Excellency welcomed the Indian government’s proposal to open air corridors to Central Asian countries for transportation of fruits and vegetables, food and other agricultural products from Tashkent and other aviation hubs of Uzbekistan

According to Uzbek experts, charter cargo flights for transporting fruits, vegetables, food and agriculture products to India are possible, His Excellency said.

Speaking at the interactive session, Vijay Kalantri, Honorary Consul of the Republic of Uzbekistan in India said that last year both countries agreed to implement 50 investment projects worth 3 billion U.S. dollars and India had also opened a credit line of 448 million U.S. dollars for four development projects in Uzbekistan, including road construction, wastewater treatment and information technology.

“So far, there are over 280 companies of Indian origin operating in Uzbekistan and joint projects worth over 650 million U.S. dollars were being realized,” Kalantri, who is also the Chairman of MVIRDC World Trade Center Mumbai, said, lamenting the fact that the bilateral trade between the two countries was at a low level of 442.6 million U.S. dollars in 2020 and called for sustained efforts to promote mutual trade and investments.