Azerbaijan's Khankendi To Welcome New Textile Plant Backed By Uzbek Investors - Minister
Date
8/22/2024 6:10:35 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 22. Textile production
is set to begin in Khankendi soon, Azerbaijani Economy Minister
Mikayil Jabbarov said at the Uzbek-Azerbaijani business forum in
Tashkent, Trend
reports.
“The opening of textile production in Khankendi is expected in
the near future. This investment project is implemented by an Uzbek
company,” he said.
The Azerbaijani Minister also noted the rapid development of the
economies of Azerbaijan and Uzbekistan.
“We are witnessing growing interest from Azerbaijani businesses
in operating in Uzbekistan. Similarly, Uzbek entrepreneurs are
increasingly interested in Azerbaijan, which is very encouraging.
As we have mentioned before, our joint initiatives are showing
positive results, and I am confident this trend will continue,” he
added.
The Uzbek-Azerbaijani business forum, which kicked off in
Tashkent today, aims to strengthen economic ties between the two
countries, enhance cooperation, attract investments, and realize
joint projects. The forum will serve as a platform for discussing
ways to increase trade, share experiences, and establish new
business partnerships.
Currently, a total of 236 Azerbaijani-capital enterprises
operate in Uzbekistan, including 62 joint ventures and 174 fully
foreign-owned enterprises. Additionally, 70 Uzbek companies are
active in Azerbaijan.
The trade turnover between Azerbaijan and Uzbekistan surpassed
$118.2 million from January to July 2024.
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