Azerbaijan & Uzbekistan Eye Investments, Trade
Date
2/25/2023 3:07:07 AM
(MENAFN- AzerNews) Azerbaijani Economy Minister Mikayil Jabbarov and Uzbek
Investments, industry and Trade Minister Laziz Kudratov discussed
mutual investments and trade turnover.
Azernews informs that the discussion was held
during the Azerbaijani minister's visit to Uzbekistan.
The sides discussed the measures aimed to develop trade and
economic partnership, noting that both countries are taking
targeted steps for the implementation of the agreements signed
during a meeting of the Joint Intergovernmental Commission on
Cooperation in August 2021.
'The trade turnover between our countries increased
significantly in 2022. Along with this, great chances exist for
enhancing trade cooperation. The expansion of investment
partnerships with Uzbekistan is also of utmost importance. In this
regard, the Intergovernmental Agreement on the establishment of the
Azerbaijan-Uzbekistan Investment Fund also plays a paramount role,
which will contribute to strengthening ties between the regions and
business circles of both countries. The issues reflected in the
document will contribute to the growth of mutual investment and
trade, as well as will reinforce economic cooperation,' Jabbarov
stressed.
Furthermore, the parties emphasized the great potential for
attracting Uzbek companies to projects in trade, investment,
industry, and activities in the Araz Valley Economic Zone
Industrial Park, the Aghdam Industrial Park, and the Alat Free
Economic Zone, to the digital economy partnerships, and other
areas.
Additionally, they discussed the current activity of the Joint
Azerbaijani-Uzbekistan Intergovernmental Commission to expand
economic cooperation and explored ways of increasing mutual
investment.
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.
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