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India and Uzbekistan have signed more than 30 bilateral agreements in areas such as coal gasification, oil and gas, banking, pharmaceuticals, textiles, science and technology, standardisation, small and medium enterprises, and tourism.
The agreements were signed during the State visit of the Uzbek President, Mr Islam Abduganievich Karimov, to India.
In the hydrocarbon sector, one of the memorandum of understandings (MoU) signed was between Open Joint-Stock Company Uzbeko' mir (Uzbekcoal) and GAIL (India) for collaboration in underground coal gasification in Rajasthan and Tamil Nadu.
Uzbekistan has developed advanced technologies in coal gasification. The MoU envisages establishment of a joint working group. It also forms the basis for concluding mutually beneficial agreements in prospective projects.
ONGC Videsh Ltd (OVL) and Uzbekneftegaz (UNG), the National Oil Company of Uzbekistan inked an MoU for joint cooperation in upstream oil and gas sector in Uzbekistan as well as third countries.
The MoU provides for the formation of joint working group for identifying specific oil and gas fields in Uzbekistan and in third countries for exploration and production activities.
Uzbekneftegaz also inked an MoU with the Essar Group for cooperation in oil and gas sector – modernisation, gas transport system, and electronic reading system.
In the banking sector, an agreement for cooperation between Export Import Bank of India and National Bank for Foreign Economic Activity of Uzbekistan was signed.
The MoU envisages exchange of information in areas of trade and financing of projects, especially in the fields of road building, house construction and oil and gas sector, which are backed by State guarantees. The two sides will also pool their resources for collaborative research and identification of projects in Uzbekistan, an official statement said.
A protocol on introducing amendments in the existing double taxation avoidance agreement (DTAA) signed on July 29, 1993 was agreed upon.
The proposed protocol amends the article on exchange of information on India-Uzbekistan DTAA to meet internationally accepted standards and other articles for rationalising the withholding of tax rates in line with India's treaty negotiations with other countries to promote investment and cross border movement of goods, services and technology.
In the chemicals and fertilisers sector a memorandum of cooperation for supply of 50,000 tonne of urea and 10,000 tonne potassium chloride to India was inked. The urea and potassium chloride is to be supplied between 2011and 2015.
The agreement, one of the four signed, was inked between Markazsonoat Export and Birla Holding.
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