India and Uzbekistan have noted that vast opportunities are available for the development of cooperation between the two countries in the spheres of pharmaceuticals, entrepreneurship and many other sectors.

At the invitation of the president of the Republic of Uzbekistan, Islam Karimov, the prime minister of India, Dr Manmohan Singh, paid an official visit to the Republic of Uzbekistan on April 25-26. A Memorandum of Understanding between the Government of India and the Government of the Republic of Uzbekistan has been signed for establishing the Uzbekistan India Entrepreneurship Development Centre at Tashkent. India offered to provide financial support to establish the Uzbekistan India Entrepreneurship Development Centre in Tashkent and Uzbekistan agreed to provide necessary support to facilitate the establishment of the Centre, sources said.

The Indian side also offered to set up a tele-medicine network between India and Uzbekistan.

Both the sides expressed satisfaction with the results of the sixth meeting of the India-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation held at New Delhi on March 7, 2006 and underlined the importance of early implementation of the provisions of the signed Protocol.

Pharmexcil in the past has led delegations to Uzbekistan realizing the potential for Indian pharmaceutical exports to the region. It has been found that opportunities also exist for export of surgicals and devices to Uzbekistan. A joint venture for setting up a pharmaceutical manufacturing unit involving State Trading Corporation of India with a local firm at Almaty was also signed, earlier.

Bulk drugs imports are increasing from Uzbekistan markets. As per estimates, Indian pharmaceutical exports to Uzbekistan are over Rs 20 crore and are set to grow in the coming years.