Baku, Tashkent discuss expanding economic cooperation

By Azernews

Azerbaijan and Uzbekistan aim to further expand economic cooperation in priority areas.

The remarks were made during a meeting held between Advisor to Azerbaijani Economy Minister Emil Majidov and Uzbek Investment and Foreign Trade First Deputy Minister Laziz Kudratov, Azernews reports, citing Uzdaily.

The parties discussed a wide range of cooperation issues in such areas as investment, mutual trade, industrial cooperation, transport, and logistics.

During the meeting, the sides agreed to hold a regular meeting of the joint intergovernmental commission on cooperation between Uzbekistan and Azerbaijan and the Business Council in the second half of 2022 in Tashkent.

Following the talks, the sides agreed to accelerate the implementation of joint initiatives and projects aimed at further expanding economic cooperation between the two countries.

Diplomatic relations between the two nations got established on April 22, 1994. The volume of trade turnover between Azerbaijan and Uzbekistan amounted to $111.9 million in 2021. Presently, around 195 Azerbaijani enterprises are represented in Uzbekistan, 69 of which have joint capital and 126 of them have 100 percent Azerbaijani capital.