Uzbekistan and Azerbaijan: Striving for New Heights in Bilateral Cooperation
Economy
On August 22, ahead of Azerbaijani President Ilham Aliyev's state visit, the Uzbek-Azerbaijani Business Forum was held in Tashkent. The forum was attended by high-ranking officials, with Uzbekistan represented by Minister of Investments, Industry, and Trade Laziz Kudratov, and Azerbaijan by Minister of Economy Mikayil Jabbarov.
In his speech, Laziz Kudratov emphasized that the significant participation in the forum reflects the strong mutual interest of the business communities in cooperation. He highlighted that, thanks to the wise policies of the leaders of both nations, bilateral partnerships have reached a strategic level and are entering a new phase of development.
The trade turnover between the two countries has tripled over the past five years, and it has increased by another 20% since the beginning of this year. Both countries are actively working towards achieving the goal set by their leaders to increase mutual trade to $1 billion in the near future.
Investment cooperation is also expanding in key sectors such as energy, urban development, mechanical engineering, textile and silk industries, and agriculture. Major Azerbaijani companies like "PASHA Holding," "MATANAT," "SARDA Group," and "SOCAR" are successfully operating in Uzbekistan, while Uzbek companies are actively represented in various regions of Azerbaijan.
The forum also saw the signing of agreements on cooperation in infrastructure development, city construction, creation of new logistics centers, and educational institutions.
The trade turnover between the two countries has tripled over the past five years, and it has increased by another 20% since the beginning of this year. Both countries are actively working towards achieving the goal set by their leaders to increase mutual trade to $1 billion in the near future.
Investment cooperation is also expanding in key sectors such as energy, urban development, mechanical engineering, textile and silk industries, and agriculture. Major Azerbaijani companies like "PASHA Holding," "MATANAT," "SARDA Group," and "SOCAR" are successfully operating in Uzbekistan, while Uzbek companies are actively represented in various regions of Azerbaijan.
The forum also saw the signing of agreements on cooperation in infrastructure development, city construction, creation of new logistics centers, and educational institutions.
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