21.04.23
On 20 April, the Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov held a meeting in Baku with the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov.
During the talks, the positive dynamics of the development of Uzbek-Azerbaijani cooperation over the past few years was emphasized. The high efficiency of the 1st interregional forum of the two countries, held in February this year in Tashkent, was noted, which gave a great impetus to building up cooperation in a wide range of areas.
The parties focused on the prospects for deepening cooperation in the field of mutual investment. It was emphasized that the Uzbek-Azerbaijani Investment Fund, which is being created, is called upon to play a special role in this process.
An agreement was reached on organizing cotton-textile clusters of a full production cycle in Azerbaijan based on the experience of Uzbekistan. The progress of the promotion of previously agreed projects in the areas of sericulture and mechanical engineering was also considered.
As for mutual trade, it is planned to increase its volume to US$1 billion. In addition, the parties discussed the prospects for developing relations in the fields of industry, energy, agriculture, small and medium-sized businesses, transport, transit and other areas.
As a result of the meeting, mutual readiness to continue cooperation was expressed and a format for active interaction was developed in order to create the most favorable conditions for the development of trade relations between the two countries.
