Entrepreneurs from Uzbekistan and India met at a business forum organized by the Trade and Industry Chamber of Uzbekistan and India's Council for the Promotion of Exports of Pharmaceuticals held in Tashkent on Feb. 10.

The two sides signed agreements on trade and economic interaction, the protection and stimulation of investments, and avoidance of double taxing.

Uzbekistan exports construction materials, nonferrous metals, cotton and leather, foods and services to India, while it imports pharmaceuticals, mechanical and electronic equipment, optics, plastics and plastic items from India.

Total bilateral trade turnover between the two nations exceeded $242 million in 2013.

Approximately 20 leading Indian firms and companies have opened representative offices in Uzbekistan, and there are currently 65 joint ventures with investments from Indian entrepreneurs operating there.

"Uzbekistan wields an enormous economic potential," Abhay Kumar Sinha, the regional director of the Council for the Promotion of Exports of Pharmaceuticals of India, said. "Along with other sectors, the pharmaceuticals industry has been dynamically advancing in your country. We are interested in furthering the expanding cooperation with pharmaceutical companies of Uzbekistan, in promoting direct ties with relevant ministries and agencies, firms and companies."