India is one of the major investment partners for Uzbekistan, with great potential in foreign investment, PHD Chamber of Commerce and Industry said in its continuous endeavour of strengthening the ties with CIS region and particularly Uzbekistan. India has shared cordial diplomatic relations and a fruitful bilateral trade with Uzbekistan in the past and we would urge the Indian industries to strive towards enhancing its business cooperation with companies in Uzbekistan through effective joint ventures & technology transfers, added Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry.
Uzbekistan is coming up as an important market globally in various sectors like Healthcare, Pharmaceuticals, Energy, Tourism, Communication, Engineering, Textiles, IT, amongst others. Currently, India-Uzbekistan bilateral trade stands at US$ 328 million. In order to strengthen the strategic partnership, India and Uzbekistan have set an annual bilateral trade target of US$ 1 billion to be achieved by 2020.
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