Azernews.Az

By Ayya Lmahamad

Azerbaijan’s State Fund for Social Protection under the Labour and Social Security Ministry and Uzbekistan’s Extrabudgetary Pension Fund under the Finance Ministry have signed a protocol of intent, Azernews reports.

The document was signed by State Social Protection Fund Chairman Himalay Mamishov and Extrabudgetary Pension Fund Executive Director Abdulaziz Khaydarov during the World Social Security Forum in Morocco.

The protocol expresses the intention of both parties to establish mutually beneficial relations within the framework of their powers set by the legislation of the two states.

The document reflects the directions of cooperation in such areas as the definition of pensions, calculation, changes in legislation related to pensions, and exchange of experience and information in this area.

Diplomatic relations between Azerbaijan and Uzbekistan were established on October 2, 1995. The embassy of Azerbaijan in Uzbekistan was established in August 1996, while the embassy of Uzbekistan in Azerbaijan was opened in July 1998.

The friendly relations between the two countries are based on shared values ​​and historical ties, as well as a number of joint statements and agreements signed during bilateral visits and meetings.

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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