Azerbaijan And Uzbekistan Multiply Trade Turnover, Industrial Co-Op Over Past Eight Years

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4. Trade turnover between Azerbaijan and Uzbekistan has increased eightfold, and the volume of joint ventures has grown fivefold over the past eight years, Milana Bazarova, head of the department at the Institute for Strategic and Interregional Studies under the President of the Republic of Uzbekistan, said, Trend reports.

She made the remark at the second meeting of the Azerbaijani-Uzbek expert council on the topic "Azerbaijan and Uzbekistan: promising areas for developing mutually beneficial cooperation".

According to her, such results were achieved thanks to the political will and determination of the leaders of the two countries, which allowed us to take bilateral relations to a qualitatively new level.

"We signed an agreement on allied relations, and also established the Supreme Interstate Council between Azerbaijan and Uzbekistan. This became the basis for deepening cooperation in various areas," Bazarova noted.

According to her, special attention is paid to the development of economic cooperation. Among the priorities is the substitution of imports from third countries by using the complementary capabilities of the economies of the two states. This is especially important in the context of global instability and disruptions in logistics chains.

"The second important area is deepening industrial cooperation. We have already launched joint clusters in the automotive, textile and silk industries. And this is just the beginning. We aim to expand cooperation and develop new promising areas," she emphasized.

Bazarova expressed confidence that the partnership between Azerbaijan and Uzbekistan will continue to develop dynamically, contributing to the sustainable economic growth of both countries.

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