Azernews.Az

By Kamila Aliyeva

The Chamber of Commerce and Industry of Uzbekistan and the National Confederation of Entrepreneurs (Employers') Organizations of Azerbaijan Republic signed an agreement on cooperation.

The document was signed on February 20 in the course of the Uzbek-Azerbaijani business forum and cooperation exchange.

More than 20 representatives of large Azerbaijani companies engaged in the field of textiles, oil and gas industry, publishing, printing, pharmaceuticals, medical products, construction, restaurant business, trade, packaging, ICT, as well as more than 50 representatives of large enterprises and companies from all Uzbek regions took part in the event.

During the forum, issues of mutual cooperation on strengthening cooperation between entrepreneurs of the two countries were discussed.

Trade relations between the two countries are carried out in the mode of free trade. In 2017, the trade turnover amounted to $31.2 million, with exports accounting for $26.2 million and imports - $4.9 million.

Uzbekistan supplies vehicles, non-ferrous metals, pharmaceutical products, fertilizers, electrical and mechanical appliances, agricultural products to Azerbaijan, and renders services in the transport, tourism and other spheres. Azerbaijan's export to Uzbekistan mainly consists of mechanical appliances, confectionery products, various organic and chemical compounds, tanning and dyeing extracts.

There are 84 Azerbaijani enterprises operating in Uzbekistan with 71 of them being joint ventures, while 11 are enterprises with 100 percent foreign capital.

The main areas of activity of these enterprises cover trade, engineering and metalworking, finance and insurance, real estate operations, energy, services, jewelry production and repair, food and light industry.

Representation of one company from Azerbaijan is accredited at the Uzbek Ministry of Foreign Trade. Moreover, two Uzbek enterprises have been established in Baku that is the representative office of the Uzbekistan Airways and the dealer company of Uzavtosanoat - Uzavto Baku LLC.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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