Tashkent, Uzbekistan (UzDaily.com) – On 10 May 2022, Deputy Foreign Minister of the Republic of Uzbekistan Furkat Sidikov held a meeting with the leadership and members of the Federation of Indian Chambers of Commerce and Industry (FICCI).

Particular attention was focused on the prospects for joint production in the field of pharmaceuticals, which is one of the leading sectors of the Indian economy, which accounts for about 10% of the world’s pharmaceutical production. In this regard, the benefits and preferences that are offered to investors in the pharmaceutical free economic zones created in Uzbekistan are disclosed in detail.

The presentation participants noted that the consistent measures taken in Uzbekistan to further liberalize the economy and strengthen favorable conditions for doing business are of great interest among Indian business circles. At the same time, the great attention paid by the Government of Uzbekistan to the protection of the rights and interests of foreign investors is especially emphasized.

As a result of the event, an agreement was reached with a number of Indian companies on organizing their visits to the republic to further promote joint investment projects, in particular in the fields of pharmaceuticals, textiles, ICT, etc., as well as bilateral trade relations.

It should be noted that the Federation of Indian Chambers of Commerce and Industry was established in 1927 and is one of the largest and oldest business organizations in the country. FIKCI is also the coordinator of the India-Central Asia Business Council.