TODAY.AZ / Business

Baku-Tashkent coop in electrical engineering field marks significant step towards enhancing bilateral economic ties

30 April 2024 [12:44] - TODAY.AZ
Ulviyya Shahin

Azerbaijan and Uzbekistan discussed the development of cooperation in the fields of electrical engineering and device manufacturing.

According to the information reported by Azernews citing the Ministry of Economy, Deputy Minister Samad Bashirli was informed about this in a meeting with Mirziyod Yunusov, the Chairman of the Board of Directors of the "Uzeltexsanoat" Association of Uzbekistan, and representatives of "Artel" and "AKFA" companies.

During the meeting, it was emphasised that the Azerbaijan-Uzbekistan partnership and economic-trade relations are developing. It was noted that the trade turnover between the countries is increasing and cooperation in the field of mutual investments is expanding. However, there is great scope for strengthening the partnership.

The recent discussions between Azerbaijan and Uzbekistan regarding cooperation in the fields of electrical engineering and device manufacturing mark a significant step towards enhancing bilateral economic ties and fostering technological collaboration between the two countries.

Both countries have recognised the importance of advancing their technological capabilities and fostering collaboration to leverage mutual strengths in these sectors.

The governments of both Azerbaijan and Uzbekistan have shown commitment to fostering cooperation in various sectors, including electrical engineering and device manufacturing. Bilateral agreements and memoranda of understanding (MoUs) have been signed to formalise and enhance collaboration in these areas.

Potential areas of cooperation between Azerbaijan and Uzbekistan in electrical engineering and device manufacturing may include renewable energy technologies, power generation and distribution systems, electrical equipment manufacturing, electronics production, and semiconductor manufacturing.

Azerbaijan and Uzbekistan have historically maintained friendly relations, characterised by mutual respect and cooperation across various sectors. Both countries are members of regional organisations such as the Turkic Council and have shared cultural and historical ties as Turkic-speaking nations.

The meeting between Deputy Minister Samad Bashirli and Mirziyod Yunusov underscores the growing economic and trade relations between Azerbaijan and Uzbekistan. The trade turnover between the two countries has been increasing steadily, reflecting the mutual interest in expanding bilateral trade and investment.

The focus on cooperation in electrical engineering and device manufacturing highlights the shared interest of Azerbaijan and Uzbekistan in leveraging their respective strengths in these sectors. Both countries recognise the importance of technological advancement and industrial development in driving economic growth and competitiveness.

The involvement of representatives from the "Uzeltexsanoat" Association of Uzbekistan, as well as companies such as "Artel" and "AKFA," signifies the active participation of key players in the discussion. These entities likely possess expertise and capabilities in electrical engineering and device manufacturing, making them valuable partners for collaboration.

Despite the positive trajectory of Azerbaijan-Uzbekistan relations, there is acknowledgement of the vast potential for further strengthening the partnership. Both sides recognise the need to explore new avenues of cooperation, expand mutual investments, and deepen engagement in areas of shared interest.

Collaboration in electrical engineering and device manufacturing presents mutual benefits and opportunities for Azerbaijan and Uzbekistan. This includes technology transfer, knowledge sharing, access to new markets, and the development of innovative solutions to address common challenges.

The discussions between Azerbaijan and Uzbekistan reflect a long-term vision of building a robust partnership based on shared interests and mutual cooperation. By identifying areas of synergy and pursuing strategic objectives, both countries aim to create a conducive environment for sustainable economic growth and development.

The recent dialogue between Azerbaijan and Uzbekistan signals a positive momentum in their bilateral relations, particularly in the realm of economic cooperation and technological collaboration. By fostering partnerships in electrical engineering and device manufacturing, both countries seek to unlock new opportunities for mutual benefit and contribute to regional prosperity.

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