Uzbekistan and India Forge Groundbreaking Investor Protection Pact
Uzbekistan and India Strengthen Economic Partnership with Bilateral Investment Treaty
On September 27, Uzbekistan and India took a significant step towards solidifying their economic partnership with the signing of a Bilateral Investment Treaty (BIT) during the Uzbekistan-India Business Forum held in Tashkent. The agreement was signed by Uzbekistan’s Deputy Prime Minister Jamshid Khodjayev and India’s Finance Minister Nirmala Sitharaman.
The Bilateral Investment Treaty aims to provide robust protection for investors from both countries, aligning with international standards. Investors from Uzbekistan in India and vice versa will now enjoy increased security, guaranteed minimum treatment standards, and non-discriminatory practices. The treaty also facilitates the resolution of potential disputes through arbitration, offering protection against expropriation and laying out clear guidelines for compensation and capital transfer.
This agreement marks a significant milestone in creating a more stable and reliable investment environment in both nations. The BIT is expected to boost investor confidence, making investment activities more transparent and comfortable. By eliminating barriers and offering legal safeguards, the treaty is poised to enhance bilateral investments, benefiting businesses and driving economic growth in Uzbekistan and India.
Officials from both countries are optimistic that the Bilateral Investment Treaty will open doors for greater mutual investments, ultimately contributing to the prosperity of both economies. This partnership represents a positive step towards fostering stronger economic ties between Uzbekistan and India, paving the way for future collaborations and shared benefits.
