Trade negotiations between Canada and the United States are ongoing. The parties are striving to reach an agreement that could prevent the implementation of strict new tariffs next week.
The threat of imposing 50% duties by the Trump administration has caused serious concern among many representatives of the Canadian business community, as these tariffs could affect hundreds of Canadian goods.
Nina De Vries provides more detailed information from Toronto.
A business forum between India and Uzbekistan took place in New Delhi on August 3rd. The event gathered representatives from governments and business leaders to discuss expanding trade, economic, and investment cooperation between the two countries.
Participants included Laziz Kudratov, the Minister of Investments, Industry, and Trade of Uzbekistan; Piyush Goyal, the Indian Minister of Commerce and Industry; senior representatives from the Federation of Indian Chambers of Commerce & Industry (FICCI) and Invest India, as well as over one hundred business representatives.
Attendees reviewed the current state of bilateral interaction, identified key areas for further development, and discussed measures to strengthen trade and investment ties. It was noted that bilateral trade increased by 30% last year, exceeding $1.3 billion USD for the first time. Both sides aim to bring trade turnover to $2 billion USD by simplifying trade procedures, improving market access, and reducing administrative barriers. A memorandum of understanding to facilitate trade is currently being prepared to achieve this goal.
The forum also highlighted the complementary nature of the two economies. Uzbekistan is interested in increasing exports of agricultural and food products, fertilizers, chemicals, non-ferrous metals, textiles, electrical equipment, and other industrial goods. In turn, imports from India could increase through supplies of pharmaceuticals, technology, machinery, and automotive components.
Investment cooperation attracted particular attention. Currently, about 400 enterprises with Indian capital operate in Uzbekistan, and the total value of joint investment projects exceeds $5 billion USD. Priority areas for future cooperation were named as metallurgy, mining, chemical industry, energy, digital infrastructure, pharmaceuticals, healthcare, mechanical engineering, and agriculture. The sides also discussed projects related to deep raw material processing, production localization, renewable energy development, data centers, modern medical facilities, and agro-industrial infrastructure.
During B2B and G2B meetings, business representatives and government officials examined specific initiatives, financing mechanisms, and potential cooperation models in detail. The Ministry of Investments, Industry, and Trade of Uzbekistan reaffirmed its commitment to supporting promising investment projects at all stages—from site selection and financial agreements to commissioning. At the conclusion of the forum, the parties agreed to focus on implementing the most advanced initiatives and further strengthening Uzbekistan-India business partnership.
