India and Tajikistan today stressed upon the need to take steps to expand and diversify bilateral trade, saying it is much below its potential.
"The two leaders stressed on the importance of taking joint measures to expand and diversify present bilateral trade, which is below potential," said a joint statement issued after the meeting of Tajikistan President Emomali Rahmon and Prime Minister Narendra Modi.
Trade between the two was only at USD 32 million last fiscal.
The statement also said that the Tajik side invited Indian investments in the four free economic zones that exist in the Central Asian country.
Recalling Indian contribution in rehabilitation of Varzhob-I Hydel Power Plant, Tajik side informed that it is planning to build a number of small and medium hydroelectric power projects and invited investments from Indian companies.
The two leaders also emphasised on the importance of improving regional connectivity for realising the full potential of trade and underlined the importance of International North South Transport Corridor in this context.
Rahmon welcomed signing of trilateral agreement among India, Iran and Afghanistan on establishing Chahbahar Transport and Transit Corridors.
The statement further said that both sides took note of projects which are in the pipeline in diverse fields including IT, agriculture, heath care, training and capacity building.
"They agreed that sustainable generation and distribution of energy is important for regional development," it said.
The two leaders also called for exploring the possibility of increasing flight operations between the two countries.
"They asked respective officials for bilateral consular consultations to explore ways for easier business, medical and tourist and other visas to promote people to people exchanges," it added.
Meanwhile, an MoU was signed for amending the agreement between Tajikistan and India for the "avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income".
Another MoU was also inked on initiation of Bilateral Investment Treaty.
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