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Informist, Friday, Sep 27, 2024

 

NEW DELHI – India and Uzbekistan today signed a bilateral investment treaty in Tashkent, the finance ministry said in a release. The treaty provides for appropriate protection for Indian investors in Uzbekistan and for Uzbekistan's investors in India, according to the release. 

 

The treaty was signed by Finance Minister Nirmala Sitharaman and Uzbekistan Deputy Prime Minister Khodjayev Jamshid Abdukhakimovich. "It (the treaty) will increase the comfort level and boost the confidence of investors by assuring a minimum standard of treatment and non-discrimination, while providing for an independent forum for dispute settlement through arbitration," the release said. 

 

The investment treaty also assures protection to investments from expropriation, and provides for transparency, transfers and compensation for losses. "However, while providing such investor and investment protection, balance has been maintained with regard to state's right to regulate and thereby provides adequate policy space."  End

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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