Azerbaijan, Uzbekistan eye prospects of establishing investment & transport co-op

Azerbaijan and Uzbekistan have discussed the prospects of establishing investment and transport-logistics cooperation based on joint use of resources and opportunities of the Baku International Sea Trade Post and Alat Free Economic Zone, Azernews reports.

The discussion took place during a meeting between Uzbek Deputy Prime Minister, Investment and Foreign Minister Jamshid Khodjaev, and the leadership of the Baku International Sea Trade Port and Alat Free Economic Zone.

During the meeting with Alat FEZ Board Chairman Valeh Alasgarov, the parties discussed the prospects of expanding the investment partnership with a focus on the implementation of joint projects in the production of food, textile, and other high-value-added products in the territory of FEZ with the organization of further exports to the EU, the CIS and other neighboring countries.

Moreover, during the meeting with Baku International Sea Trade Port General Director Taleh Ziyadov, the sides considered the possibility of further expansion of transport and logistics relations, in particular the adoption of measures to increase the volume of container traffic and transportation of goods, such as Ro-Ro [ed. Roll-on/roll-off ships] through seaports.

Further, the prospects of opening Uzbek warehouses and container terminals on the basis of the Baku International Sea Trade Port and holding a meeting of the joint commission on international road transport to discuss issues of mutual transport of goods through the territories of the two countries were emphasized.

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.