India and Uzbekistan intend to deepen their economic, trade, and investment interaction, with a particular focus on mineral extraction, metallurgy, and green energy. This was reported by the news agency Dunyo, citing a publication in The Economic Times.
A business forum was held ahead of the visit of Indian Prime Minister Narendra Modi to Tashkent. Representatives of Uzbekistan urged Indian investors to participate more actively in projects for the extraction and processing of gold, copper, uranium, and rare earth metals.
Uzbekistan's Foreign Minister Bakhtiyor Saidov and Minister of Investment, Industry and Trade Laziz Kudratov met with India's Foreign Minister Subrahmanyam Jaishankar and Minister of Commerce and Industry Piyush Goyal.
The parties discussed the possibility of increasing bilateral trade to $2 billion in the near future, with the subsequent goal of reaching $3–5 billion.
According to The Economic Times, Uzbekistan is among the top ten countries globally with the largest reserves of gold, copper, and uranium. Currently, about 400 enterprises with Indian capital operate in Uzbekistan, and the total portfolio of joint projects exceeds $5 billion.
In addition to the mining industry, priority areas of cooperation recognized include the chemical industry, renewable energy, pharmaceuticals, and automotive manufacturing. Specifically, the prospect of increasing the production of mineral fertilizers in Uzbekistan and increasing the share of green energy to 54% by 2030 is being discussed.
In the pharmaceutical sector, joint production of medicines and vaccines with Indian companies Dr. Reddy's and Cipla has been identified as a promising direction. Furthermore, the parties are considering the possibility of localizing the production of auto components.
The Deputy Prime Minister of Uzbekistan, Jamshid Khojaev, held a meeting in Kabul with the Governor of Herat Province, Nur Muhammad Islamjar, as well as representatives of the Afghan Chambers of Commerce and Industry.
Participants discussed opportunities to expand bilateral trade and economic interaction between the two countries. Present were Faiz Ahmad Havafi, Deputy Head of the Afghan Chamber of Commerce and Industry in Herat, Mohammad Yunus Kazizada, Chairman of the Herat Chamber of Commerce and Industry, along with ministers of transport and mining and oil of Uzbekistan, alongside private sector representatives from Afghanistan.
A key topic of discussion was increasing the volume of bilateral trade to five billion US dollars. Furthermore, participants considered the possibility of providing preferential tariffs on fourteen Afghan export goods and special discounts on railway transportation of products from Uzbekistan to Afghanistan.
Mohammad Yunus Kazizada emphasized the significant potential of Herat for implementing joint investment projects and stated that the Chamber of Commerce and Industry is ready to facilitate cooperation between investors from both countries. The meeting participants particularly noted the importance of regularly holding such negotiations to maintain continuous economic dialogue and further develop trade and investment partnership between Uzbekistan and Afghanistan.
A meeting took place in Kabul between the Prime Minister of Afghanistan, Mullah Mohammad Hassan Akhund, and the Deputy Prime Minister of Uzbekistan, Jamshid Khodjayev, who headed the Uzbek delegation. The governor of the Fergana region, Khayrullo Bozorov, also participated in the negotiations.
The parties discussed the further development of trade and economic interaction, as well as the implementation of previously reached agreements in the field of trade and investment. Jamshid Khodjayev emphasized that the goal of the large Uzbek delegation, which included representatives of state bodies, legislators, entrepreneurs, and investors, is to strengthen political and economic ties between the two countries.
According to him, Afghanistan holds a significant place in Uzbekistan's foreign policy. The delegation's visit was organized at the instruction of President Shavkat Mirziyoyev with the aim of beginning the practical implementation of agreements in the sectors of trade and investment and assessing the results of their execution.
Khodjayev reported that last year the volume of Afghanistan's exports to Uzbekistan reached 150 million US dollars. Since the beginning of the current year, this amount has been 111 million US dollars, and further growth is expected by the end of the year. Furthermore, the deputy prime minister noted that Uzbekistan issued 5000 visas to Afghan citizens, which he links to the development of friendly and economic relations.
Mullah Mohammad Hassan Akhund welcomed the Uzbek delegation, calling its visit an important step for further strengthening bilateral relations. He stated that the arrival of such a representative delegation and the development of economic cooperation demonstrate Uzbekistan's confidence in Afghanistan's future. The Prime Minister of Afghanistan also expressed interest in deepening ties with Uzbekistan and confirmed his readiness to fulfill the reached agreements.
