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Want to make Uzbekistan part of the Silicon Route instead of the Silk Route: Suresh Prabhu
Sep 28, 2018

Uzbekistan was once part of the ancient Silk Route linking the Far East to Europe. We would now like to make it part of the Silicon Route. This was stated by Mr. Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation while addressing the India – Uzbekistan Business Forum in New Delhi today. According to the Minister, India and Uzbekistan could cooperate to foster the development of new and advanced technologies and with that create the new Silicon Route.

Mr. Prabhu stated that services was an area that the two countries needed to strengthen collaboration. He highlighted the areas of skill development, medical treatment, food processing and energy as potential areas of cooperation.

He also highlighted that India was working with the various countries of the region to create the International North-South Transport Corridor which would go a long way in reducing transportation costs between India and the Central Asian Region.

H E Mr. S Kholmuradov, Hon’ble Deputy Prime Minister of the Republic of Uzbekistan stated that his Government was committed to making investment in Uzbekistan easier. He stated that his Government had undertaken several reforms in terms of taxation, licensing, permits, visas among others. He mentioned that a Uzbekistan – India Special Pharmaceutical Economic Zone was in the process of being set up in his country. He invited Indian Industry to invest in Uzbekistan and take advantage of the economic changes sweeping the country.

Dr. Adkham Ikramov, Chairman, Chamber of Commerce and Industry of Uzbekistan spoke of the need for enhancing contact between the business communities of both countries to provide the much needed boost to bilateral economic relations.

Mr. Shiv Khemka, Chairman, CII Central Asia Committee & Vice Chairman Sun Group stated that there was tremendous potential to boost bilateral trade by a multiple of 5 to 10 times from its current level and concerted efforts needed to be made to make this happen.

Mr. Chandrajit Banerjee stated that the two countries could work together in the areas of SME development, Clean energy and water among others.

4 MoUs were signed at the Business Forum. These included the following:

Agreement on Cooperation between CII and the Chamber of Commerce and Industry of Uzbekistan to form the India – Uzbekistan Business Council.

Cooperation Agreement between SUN EURASIA and the Fund for Reconstruction and Development of the Republic of Uzbekistan

Agreement on Joint Development of Tungsten deposits in Uzbekistan between IFG Capital Partners S.A., SUN EURASIA and the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources

MoU between IRIS Business Services and Integral Asia LLC.

New Delhi

September 28, 2018

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