Finance Minister Nirmala Sitharaman Meets Uzbekistan’s Laziz Kudratov in Samarkand
Samarkand, Uzbekistan – Union Finance Minister Nirmala Sitharaman met with Uzbekistan’s Trade Minister Laziz Kudratov in Samarkand to discuss areas of mutual interest in renewable energy, fertilizers, and pharmaceuticals. The meeting aimed to strengthen economic relations between India and Uzbekistan.
The two leaders acknowledged the successful agreement towards the Bilateral Investment Treaty (BIT) between the two countries. They agreed that the signing of BIT will bolster investor confidence in each other’s markets, especially in sectors like healthcare, hospitality, tourism, higher education, textiles, pharmaceuticals, and agriculture.
The meeting took place ahead of the Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Samarkand. The Ministry of Finance shared this information in a post on X (formerly Twitter).
Both ministers also discussed India’s Digital Payments revolution, including the RuPay card and UPI mechanism. Kudratov appreciated India’s growth story and stressed the need to further enhance bilateral trade and connectivity.
Notably, Sitharaman is on a five-day official visit to Uzbekistan. During her visit, she will attend the Ninth Annual Meeting of the Board of Governors of AIIB, scheduled in Samarkand, and hold other important bilateral meetings with counterparts from Uzbekistan, Qatar, China, and the AIIB President.
India is the second-largest shareholder of AIIB, a multilateral development bank focused on developing sustainable infrastructure in Asia and promoting investments in infrastructure and other productive sectors to foster sustainable economic development, create wealth, and improve infrastructure connectivity.
Doubts Revealed
Finance Minister -: The Finance Minister is a person in the government who is responsible for managing the country’s money and finances. In India, this person is Nirmala Sitharaman.
Nirmala Sitharaman -: Nirmala Sitharaman is the current Finance Minister of India. She helps make decisions about how the government spends and saves money.
Uzbekistan -: Uzbekistan is a country in Central Asia. It is far from India and has its own government and culture.
Laziz Kudratov -: Laziz Kudratov is the Trade Minister of Uzbekistan. He helps manage trade and business deals for his country.
Samarkand -: Samarkand is a city in Uzbekistan. It is known for its beautiful buildings and rich history.
renewable energy -: Renewable energy comes from natural sources that can be used again and again, like sunlight, wind, and water.
fertilizers -: Fertilizers are substances added to soil to help plants grow better. They provide important nutrients to the plants.
pharmaceuticals -: Pharmaceuticals are medicines and drugs that help people stay healthy or get better when they are sick.
Bilateral Investment Treaty (BIT) -: A Bilateral Investment Treaty is an agreement between two countries to protect and encourage investments made by people and companies from each country in the other country.
Digital Payments revolution -: The Digital Payments revolution refers to the big change in how people pay for things using technology like mobile phones and the internet instead of cash.
Ninth Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) -: This is a yearly meeting where important people from different countries come together to talk about how to build and improve things like roads, bridges, and schools in Asia. The AIIB is a bank that helps fund these projects.
bilateral meetings -: Bilateral meetings are discussions between two countries to talk about important issues and make agreements.
