Uzbekistan-India Bilateral Investment Treaty (BIT)

India and Uzbekistan recently signed a Bilateral Investment Treaty (BIT) in Tashkent, Uzbekistan.

Key Features of the BIT

• Investor Protection: Ensures appropriate protection for Uzbek investors in India and Indian investors in Uzbekistan.
• Boosts Investor Confidence: Assures minimum standard of treatment and non-discrimination for investors.
  • Provides an independent forum for dispute settlement via arbitration.
• Other Provisions: Includes provisions for transparency, transfers, and compensation for losses.

Significance of the BIT

• Economic Cooperation: Reflects the shared commitment of both nations to enhancing economic cooperation.
• Investment Environment: Aims to create a robust and resilient investment environment.

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• Mutual Economic Benefits: Expected to increase bilateral investments, benefiting businesses and economies of both countries.

India – Uzbekistan Relation

Areas of Cooperation

• Military Collaboration: Joint military exercise, DUSTLIK.
• Multilateral Cooperation: Active cooperation in platforms like UN, G20, BRICS, and SCO.
• Trade Relation of India Uzbekistan: Significant growth in India-Uzbekistan bilateral trade has been observed over the past five years.
• Other Engagements:
  • India-Central Asia framework at the India-Central Asia Summit.
  • India-Central Asia Dialogue at the foreign minister level.
  • Joint Working Group on Afghanistan and the Central Asia Business Council.

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