(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 2. Baku and Tashkent areaiming to expand the joint projects portfolio, Trend reports.
The issue was reviewed at the meeting between Uzbekistan'sPresident Shavkat Mirziyoyev and Azerbaijan's Minister of EconomyMikayil Jabbarov, who is visiting Tashkent.
Both sides stressed the need to expand their project portfolios,including by attracting funding from a joint investmentcompany.
The two countries are already working together on projects insectors like automotive, energy, agriculture, electricalengineering, textiles, and tourism.
They also agreed to hold the next meeting of theIntergovernmental Commission and the second Forum of the Regions ofboth countries.
Today in Tashkent, a Memorandum of Cooperation was signed forthe integration of the energy systems of Azerbaijan, Kazakhstan,and Uzbekistan. Mikayil Jabbarov stated that this agreement willhelp achieve joint goals in producing "green" energy and exportingit to Europe through Azerbaijan, as well as integrating energysystems and efficiently using renewable energy sources.
Trade turnover between Azerbaijan and Uzbekistan from January toMarch 2024 totaled $142 million. The two countries' economies haveenough potential for mutual trade indicators to reach $1 billion inthe coming years.
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