India, Uzbekistan target long-term uranium pact, set annual trade target of $5 bn
In a significant diplomatic move, India and Uzbekistan have enhanced their engagement to a comprehensive strategic partnership. They have ambitious plans for trade, aiming for a target of five billion dollars each year. The nations also formalized an agreement for uranium supply and created a foreign minister-level coordination council while signing eleven memorandums of understanding across…
India and Uzbekistan solidified their relationship on a comprehensive strategic partnership level, vowing to increase bilateral trade to $5 billion annually. President Shavkat Mirziyoyev and Prime Minister Narendra Modi discussed expanding cooperation in defense, security, trade, investment, critical minerals, artificial intelligence, agriculture, and health during their talks in Tashkent.
The two nations outlined plans to enhance defense cooperation, including exchanges, capacity-building, and joint activities, and agreed to address common security challenges by further strengthening ties. Additionally, India would begin a long-term uranium supply arrangement with Uzbekistan, a major regional producer and exporter.
The leaders signed 11 Memorandums of Understanding (MoUs) covering various sectors such as culture, education, mining, Ayurveda, tourism, and restoration of Buddhist sites. They also planned to create a Joint Working Group to tackle non-tariff issues and investment barriers to boost bilateral trade.
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