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

Uzbekistan has invited Indian companies to explore joint-venture opportunities in seven pharmacological free economic zones, said Dilshod Akhatov, Ambassador to Uzbekistan –India, yesterday.

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 Akhatov at an interactive meeting held in 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.

Akhatov also expressed hope about collaboration to promote connectivity between Central and South Asian regions at the forthcoming international conference on “Central and South Asia: Regional Connectivity – Challenges and Opportunities,” which is scheduled at Tashkent in July.

He 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, Akhatov said.

Speaking at the interactive session, Vijay Kalantri, Consul of the Republic of Uzbekistan in India said that last year both countries agreed to implement 50 investment projects worth $3 billion, and India had also opened a credit line of $448 million 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 were being realised,” Kalantri informed, lamenting the fact that the bilateral trade between the two countries was at a low level of $442.6 million in 2020, and called for sustained efforts to promote mutual trade and investments.