(MENAFN- AzerNews)
Ayya Lmahamad read more Azerbaijan and Uzbekistan are set to increase the volume of
mutual trade up to $1 billion within the next five years, Azernews
reports.
The remarks were made at a meeting between Azerbaijani Deputy
Prime Minister Shahin Mustafayev and Uzbek Deputy Prime Minister,
Investment and Trade Minister Jamshid Khodjaev.
In this regard, the parties agreed upon a number of specific
practical measures.
During the meeting, the sides noted the positive dynamics of
bilateral relations and the important results of the state visit of
President Ilham Aliyev to Uzbekistan in June 2022, which gave a
powerful impetus to deepening and expanding the strategic
partnership between the two countries.
The expansion of direct contact between the regions of the two
countries was named among the promising areas of interaction. An
agreement has been reached to hold a regular meeting of the
business council and the first forum of the regions of Uzbekistan
and Azerbaijan in Tashkent in early 2023.
Moreover, the sides agreed to create joint silk and textile
clusters, and carry out joint investment projects in mechanical
engineering, chemical, petrochemical, and jewelry industries, as
well as in energy, agriculture, and other sectors.
Additionally, the sides discussed a broad agenda of bilateral
investment cooperation.
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.
--
Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @ayyalmahamad
Follow us on Twitter
@azernewsaz
Tags: azerbaijan uzbekistan cooperation trade turnover
MENAFN27122022000195011045ID1105356983
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.