BAKU, Azerbaijan, September 15. Uzbekistan and India are exploring opportunities to expand economic cooperation in the pharmaceutical, semiconductor, and startup sectors, with the aim of translating recent agreements into new joint initiatives.
This was reflected in the statement by the Uzbek Ministry of Economy and Finance following a meeting between Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov and Indian Finance Minister Nirmala Sitharaman on the sidelines of the 18th BRICS Summit in India.
The sides reviewed the current state of economic and financial cooperation and discussed prospects for expanding bilateral ties. Particular attention was given to implementing agreements already reached, supporting mutually beneficial initiatives and identifying new areas of cooperation.
The sides welcomed the outcomes of Indian Prime Minister Narendra Modi’s visit to Uzbekistan in August, including the signing of a memorandum of understanding between the finance ministries of the two countries.
The meeting also focused on opportunities to apply India’s experience in the pharmaceutical and medical industries and expand cooperation in these sectors.
High-tech cooperation was another key area of discussion, with particular attention to semiconductors. The sides considered ways to leverage India’s expertise and technological capabilities to develop cooperation in Uzbekistan, as well as opportunities to jointly train qualified specialists for the sector.
Uzbekistan and India also discussed strengthening ties between their startup ecosystems and expanding cooperation in innovative entrepreneurship. The sides exchanged views on supporting promising technology projects and developing new areas of collaboration between startups in the two countries.
The sides agreed to focus on the practical implementation of existing agreements and maintain dialogue on priority areas of economic and financial cooperation.
Moreover, they agreed to jointly advance promising initiatives in pharmaceuticals, high technology, semiconductor development and innovative entrepreneurship.
