14Th Joint Commission Session Marks Milestone In Azerbaijani-Uzbek Economic Ties (PHOTO)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 20.​ The 14th session of the Joint Intergovernmental Commission on Cooperation between the Republic of Azerbaijan and the Republic of Uzbekistan was held at the Ministry of Economy in Baku, the ministry told Trend .

The Azerbaijani co-chair of the commission, the Economy Minister Mikayil Jabbarov, emphasized that the political will of the heads of state, high-level visits, and bilateral agreements have played a key role in expanding Azerbaijan-Uzbekistan ties. The minister noted that the commission's work has been positively assessed, and new tasks have been outlined to further strengthen cooperation.

The assembly acknowledged that the economic and trade synergies between the two nations persist in exhibiting a robust trajectory of positive momentum. The trade turnover during the initial months of the fiscal year has experienced a substantial amplification, exceeding threefold in comparison to the corresponding timeframe of the previous year. Strategic alignment in investment partnerships continues to be a pivotal area of emphasis. The Azerbaijan-Uzbekistan Investment Company is actively engaging in the identification and evaluation of synergistic project financing opportunities, both domestically and regionally, and is presently conducting a comprehensive review of 15 potential ventures.

Notable progress has been made in the automotive sector, as Uzbekistan's UzAuto Motors and Azerbaijan's Azermash continue to produce Chevrolet-brand vehicles and components at Hajigabul Industrial Park. Following last year's groundbreaking ceremony, construction of a second manufacturing facility is currently underway. Nearly nine thousand vehicles have already been assembled under this partnership. The two sides also underscored additional collaborative efforts, including the development of a cotton cluster in Azerbaijan and projects across construction and other key sectors.

The Uzbek co-chair of the commission, Minister of Investment, Industry, and Trade, Laziz Kudratov, praised the successful partnership across various sectors and shared proposals to expand cooperation, increase trade turnover, and enhance collaboration between business communities through joint projects.

The session concluded with the signing of a protocol by the co-chairs, outlining plans to strengthen cooperation in trade, energy, transportation, innovation, public services, healthcare and pharmaceuticals, agriculture, food safety, cultural and social fields, tourism, media, and communications.

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