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Indian Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev held a bilateral meeting on the sidelines of the Vibrant Gujarat Global Summit 2019.
Important Outcomes of the Bilateral Meet
- An agreement for importing uranium from Uzbekistan was signed.
- An agreement for a line of credit of $200 million from India for financing housing and social infrastructure projects in Uzbekistan.
The agreement for the supply of Uranium was signed between the Department of Atomic Energy of India and the Novoi Minerals and Metallurgical Company of the Republic of Uzbekistan on the long-term supply of uranium ore concentrate for India’s energy requirements.
The bilateral meet also expressed satisfaction over the memorandum of understanding (MoU) on cooperation between Gujarat and the Andijan region of Uzbekistan signed during the state visit of President Mirziyoyev to India in 2018.
Trade relations between India and Uzbekistan
India’s major exports to Uzbekistan include Pharmaceutical products, mechanical equipment, vehicles, services, optical instruments and equipment.
India imports include fruit and vegetable products, services, fertilisers, juice products, extracts and lubricants from the Central Asian nation.
An Uzbek-Indian Free Pharmaceutical Zone is being developed in the Andijan region, which is on the southeastern side of Uzbekistan, near its border with Kyrgyzstan to attract investments in the pharmaceutical sector.
During the Bilateral meet, India thanked Uzbekistan for the support in organising the first-ever India-Central Asia Dialogue held at the level of foreign ministers in Samarkand, Uzbekistan.
Prime Minister Narendra Modi inaugurated the 9th edition of Vibrant Gujarat Summit. On the occasion, the Prime Minister also set the target for breaching into top 50 rankings of the ease of doing business.
The three-day Vibrant Gujarat Summit will witness the participation of the heads of five countries Uzbekistan, Rwanda, Denmark, Czech Republic and Malta – and over 30,000 national and international delegates. A round-table interaction with the heads of global funds, ‘Africa Day’ and an MSME convention would also be held during the convention.
Vibrant Gujarat Summit
Vibrant Gujarat Summit conceptualized in 2003 by then Chief Minister of Gujarat Narendra Modi, to establish Gujarat as a preferred investment destination within India.
The objectives of the Vibrant Gujarat Summit are:
- Strengthen the foundation for Gujarat to become economically and socially the most developed state in India by 2030, at par with the best in the developed world.
- Leveraging Gujarat’s manufacturing leadership in the country and it’s economic strength, to connect the global investor with India and the state.
- Attract the brightest minds from across the world to ideate, showcase innovation and best practices, and discuss their application to the state and the nation.
- Empower India to compete with the best global economies.
- Provide a platform for global business networking.
Over the time the Summit has evolved into a platform for brainstorming on agendas of global socio-economic development, in addition to being a facilitator for knowledge sharing and forging effective partnerships.