Tashkent, Aug. 30 -- India and Uzbekistan on Sunday agreed to move towards a Preferential Trade Agreement and to set up a Joint Working Group to address non-tariff issues and investment barriers as the two countries seek to significantly expand bilateral trade and investment.

Setting an ambitious economic roadmap, the two sides have set a target of increasing bilateral trade to USD 5 billion by 2030, from the current level of more than USD 1 billion, with a focus on expanding market access, improving connectivity and strengthening banking and payment channels.

Addressing a joint press statement with Uzbek President Shavkat Mirziyoyev in Tashkent, Prime Minister Narendra Modi said trade expansion would remain at the centre of the bilater...