Trade information
Uzbekistan, Azerbaijan agree to develop cooperation in energy, oil and gas industries, boost trade relations

On August 1, the 11th meeting of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan was held in Tashkent. Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Jamshid Khodjaev and the Minister of Economy of Azerbaijan Mikayil Jabbarov, headed the delegations of the parties.

During the event, the parties will emphasize the high level and trusting nature of relations, which has been strengthened due to the desire of the leadership of the two countries to expand multi-level ties.

During the talks, the sides agreed on the creation of a cluster for producing silk in 6 districts near the city of Barda, the development of new projects in the Yevlakh pilot agricultural park and the Aghdam industrial park. The parties also considered establishing a joint venture for the production of jewelry in Tashkent, as well as developing cooperation in the chemical industry, energy, oil and gas industries.

The ministers confirmed their intention to continue the implementation of the initiative to create the Uzbek-Azerbaijani Investment Fund, in connection with which a road map will be developed to organize its activities.

It was noted that in order to intensify mutual trade, the practice of holding annual meetings of the Uzbek-Azerbaijani Business Council and mutual trade missions will be introduced.

In addition, an agreement was reached on organizing the first Forum of Regions, as well as an exhibition of national producers from various regions of Uzbekistan and Azerbaijan in November of this year in Tashkent.