Azernews.Az

By Ayya Lmahamad

Azerbaijan and Uzbekistan have discussed and outlined priorities for the cooperation development between the two countries, Azernews reports.

The discussion took place during a meeting between Azerbaijan's Economy Minister Mikayil Jabbarov with Uzbekistan's Deputy Prime Minister, Investments and Foreign Trade Minister Jamshid Khodjaev in Tashkent.

"During the meeting with Jamshid Khojayev, Deputy PM of #Uzbekistan, Minister of Investments and Foreign Trade, we discussed the development of economic ties, increase of #investments and #trade turnover, as well as expansion of cooperation in the field of #industry," Jabbarov wrote on his official Twitter page.

During the meeting, the parties stressed the significance and efficiency of the visit of the Azerbaijani president to Uzbekistan in June 2022. They noted that the direct dialogue at the highest level has allowed intensifying bilateral interaction in all existing areas, as well as identifying new growth areas of mutually beneficial partnership.

The sides stated that over the past five years, the number of joint ventures created in Uzbekistan with Azerbaijani capital has increased fourfold and totaled 243 units, adding that 70 enterprises with Uzbek capital are operating in Azerbaijan.

They agreed to intensify efforts for the timely and qualitative implementation of 87 joint projects and trade contracts worth over $500 million in the oil and gas, chemical, textile, and agriculture sectors.

Moreover, the sides reaffirmed intentions to continue the initiative on the creation of the Uzbek-Azerbaijani Investment Fund, and in this regard agreed to develop a roadmap as soon as possible to organize its activities, as well as begin the development of the relevant intergovernmental agreement.

Discussing the prospects for strengthening transport and logistics ties, they agreed to enhance cooperation under the Intergovernmental Agreement on International Road Transport between Uzbekistan and Azerbaijan, as well as to accelerate the transportation of cargoes with goods for Uzbekistan across the Caspian Sea.

Additionally, the parties discussed prospects for expanding inter-regional cooperation, meaning the organization of an exhibition of national goods in November this year in Tashkent, as well as holding at a high substantive level the first forum of regions of Uzbekistan and Azerbaijan.

During the visit to Uzbekistan, Mikayil Jabbarov also held a meeting with the Uztekstilprom Association's Chairman Ilhom Haydarov and the Uzbekipaksanoat Association's Chairman Bahrom Sharipov.

"We have familiarized ourselves with the activity of the modern #textile clusters in Tashkent and met with chairman of the Uztekstilprom Association Ilhom Haydarov and chairman of the Uzbekipaksanoat Association Bahrom Sharipov. We have also held fruitful discussions on the benefits of the expansion of cooperation between #business entities for the economic development of our countries," Jabbarov wrote on Twitter.

The volume of trade turnover between Azerbaijan and Uzbekistan amounted to $111.9 million in 2021.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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