Azerbaijan, Uzbekistan Possess Great Potential For Joint Production CASPIA

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 15. Azerbaijan and Uzbekistan have significant potential to develop joint production and establish an industrial alliance, the Director and Co-founder of the CASPIA Analytical Center, Orkhan Yolchuyev said, Trend 's correspondent reports from the event.

He made the remarks at the presentation of the Azerbaijan-Uzbekistan Business Barometer initiative.

According to him, one promising model of cooperation could be to combine the production capabilities of the two countries and manufacture joint products. Yolchuyev noted that the idea of creating a common industrial alliance had previously been discussed at the regional level.

He said that further development of economic ties requires moving from assessing trade volumes to evaluating the quality of interaction between companies. "We have reached the point where we need to examine how easy it is for businesses to find partners and launch joint projects," Yolchuyev said.

Yolchuyev stressed the need to identify mechanisms that would allow political agreements between the two countries to be translated into concrete investment projects.

According to the CASPIA head, these issues should be taken into account as part of the Azerbaijan-Uzbekistan Business Barometer, which is being developed jointly by CASPIA and Uzbekistan's Center for Progressive Reforms.

Moreover, he noted that the platform will focus not only on analyzing trade indicators, but also on identifying practical opportunities for businesses, including finding partners and launching joint projects.

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