Uzbekistan invited Indian firms to invest in its mining, minerals, and critical rare earth sectors, with bilateral trade targeted at $2 billion next year, up from $1.3 billion, ahead of PM Modi's anticipated visit to Tashkent.
Uzbekistan's Investment Minister pitched the nation's vast gold and copper reserves to Indian investors, targeting $2 billion in bilateral trade by 2027, reflecting a broader geopolitical shift toward South-South investment corridors bypassing traditional Western financial systems.
Iran's and Uzbekistan's trade ministers met at the Shanghai Cooperation Organization summit, emphasizing increased bilateral trade through streamlined customs processes and operationalized agreements, with focus on mining, mineral industries, and knowledge-based technology cooperation.
India proposed a free trade agreement with Uzbekistan to boost bilateral trade toward three billion dollars and secure rare-earth minerals, addressing China's dominance in India's critical mineral supply chains.
India and Uzbekistan discussed a potential free trade agreement while exploring expanded bilateral trade from $1.5 billion, with Uzbekistan inviting Indian investment in mining, rare earths, and other sectors, aiming to double trade within three years.
UAE and Uzbekistan discussed strengthening economic partnerships across fintech, tourism, and investment sectors, with Uzbek visitors to UAE rising 25% year-over-year and over 2,300 Uzbek companies already operating there.
Uzbekistan invited Indian companies to invest in mining, rare earths, and other sectors, projecting bilateral trade reaching USD 2 billion next year, up from USD 1.3 billion, with around 400 Indian firms already operating there.
Saudi Arabia and Uzbekistan discuss expanding healthcare cooperation during a meeting between officials from both countries.