Trade turnover between Uzbekistan and Azerbaijan grows by 26.5%

The Minister of Investment, Industry and Trade of the Republic of Uzbekistan Aziz Kudratov met with the Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to Uzbekistan Huseyn Guliyev, UzA reports.

The parties noted with satisfaction the positive dynamics of the development of trade-economic and investment ties between the two countries, based on close and trusting relations between the leaders of Uzbekistan and Azerbaijan.

In 2023, the trade turnover between Uzbekistan and Azerbaijan increased by 26.5%. 230 enterprises with the participation of Azerbaijani capital operate in Uzbekistan in various fields, including trade, mechanical engineering and metalworking, finance and insurance, real estate transactions, energy, services, jewelry production, food, and light industry. Many large, mutually beneficial investment projects are being implemented.

Measures to accelerate the implementation of agreements reached during the state visit of the President of the Republic of Azerbaijan Ilham Aliyev to Uzbekistan in August this year were discussed. In particular, the parties discussed the development of urban infrastructure, industrial production, chemical industry and IT.

Based on this, the parties expressed a common opinion on the importance of building partnerships between the business circles of the two states and developing interregional cooperation. The readiness to take the necessary measures to support the business community and further strengthen cooperation in priority sectors was confirmed.