A bilateral investment treaty, or BIT, was signed in Tashkent by India and Uzbekistan. The Treaty was signed by Khodjayev Jamshid Abdukhakimovich, the Deputy Prime Minister of Uzbekistan, and Finance Minister Nirmala Sitharaman. A proper level of protection for Uzbek investors in India and Indian investors in Uzbekistan is guaranteed by the Bilateral Investment Treaty (BIT) between the two countries, taking into account pertinent international precedents and practices.
The Treaty will increase investor trust by guaranteeing a nondiscriminatory minimum standard of treatment and by offering an independent arbitration venue for the resolution of disputes. Moreover, it offers transfers, compensation for losses, and transparency.
According to the Finance Ministry, both countries’ shared commitment to fostering economic cooperation and building a more stable and resilient investment climate is reflected in the signing of the BIT. More bilateral investments are anticipated as a result of the treaty, which will help both countries’ economies and enterprises.