India to sign bilateral investment treaty with Uzbekistan during FM Sitharaman's visit

New Delhi: Finance Minister Nirmala Sitharaman is set to embark on an official visit to Uzbekistan from September 24-28, to attend the ninth annual meeting of Board of Governors of Asian Infrastructure Investment Bank (AIIB).

FM Sitharaman will hold bilateral meetings with her counterparts from Uzbekistan, Qatar and China, along with the AIIB President. The Finance Minister will attend the meeting as the Indian Governor to the AIIB, according to a statement from Ministry of Finance.

India is the second largest shareholder of the bank. The multilateral discussions will centre around a broad spectrum of important global issues relevant to the development agenda.

As part of the official visit, the Finance Minister is expected to call on HE Shavkat Mirziyoyev, President of Uzbekistan. She will sign a bilateral investment treaty (BIT) between India and Uzbekistan, according to the ministry.

The treaty aims to promote more extensive economic cooperation for the mutual benefit of both countries on a long-term basis.

FM Sitharaman is also set to also participate in the India-Uzbekistan business forum discussions, jointly organised as well as represented by industry captains from both the countries.

Apart from these engagements, FM Sitharaman will also visit the Samarkand State University and Lal Bahadur Shastri Monument in Tashkent. The Finance Minister will also interact with Indian diaspora representing leading voices from multiple sectors.

The AIIB annual meeting sees participation of delegations from around 80 countries, and other international organisations.

As a multilateral development bank, AIIB is focused on developing sustainable infrastructure in Asia and in promoting investments in infrastructure and other productive sectors with a view to foster sustainable economic development, create wealth and improve infrastructure connectivity, according to a Ministry of Finance statement.