The Government of India has requested Uzbekistan to consider reduction of import tariff imposed by Uzbekistan, especially on fabrics and madeups. India’s commerce and industries minister Nirmala Sitharaman also urged the visiting Uzbek ministers to reduce duty on readymade garments and to simplify the procedure for registration and certification.
Uzbek minister of foreign trade Elyor Ganiev and minister of foreign affairs Abdulaziz Kamilov held detailed discussions with Sitharaman on deepening trade and economic ties between India and Uzbekistan in a bilateral meeting held in New Delhi this week.
During the meeting, Sitharaman expressed happiness on formation of an Uzbek India Trading House at Delhi as a Joint Venture Company. She suggested setting up and activation of a private industry led Joint Business Council to develop and enhance business relations at all levels including investments, trade in goods and services, according to an official statement.
She expressed the hope that if the draft agreement under negotiation between India-CIS Chamber of Commerce and Industry and Uzbek Chamber of Commerce is quickly finalised and the Joint Business Council commences work, then it would be a very positive development for enhancing bilateral economic and trade relations.
During the discussion, Sitharaman requested Ganiev to “consider reduction of import tariff imposed by Uzbekistan which are comparatively higher especially on fabrics and madeups (up to 30 per cent), reduction in higher MFN duty on readymade garment products which is 31.1 per cent and simplifying the procedure for registration and certification.”
Ganiev informed that Uzbek Government was seriously working to liberalise and simplify various procedures, systems and norms and expressed the hope that most of difficulties faced by (Indian) exporters would get resolved shortly.
Both sides underlined the high importance of transport and logistics infrastructure for strengthening bilateral trade ties. The Indian side requested Uzbekistan to become member of multilateral INSTC Agreement which would facilitate increased international transit cargo traffic through Iran. (RKS)
Source Fibre2Fashion News Desk – India