On August 22, the Uzbekistan-Azerbaijan Business Forum took place in Tashkent on the eve of the visit of President of Azerbaijan Ilham Aliyev to Uzbekistan. Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov and Minister of Economy of Azerbaijan Mikayil Jabbarov attended the event. In their speeches, they stated that trade between the two countries has tripled over the past 5 years, the press office of the Government of Uzbekistan reported.
Laziz Kudratov added that bilateral trade turnover has grown by 20% since the beginning of the year, noting that the main goal is to increase bilateral trade to $1 billion.
Uzbekistan and Azerbaijan scale up investment cooperation in such priority sectors as energy, urban development, mechanical engineering, textile, sericulture and agriculture. Several large Azerbaijani companies successfully operate in Uzbekistan. The Joint Investment Company, which is the engine for investment cooperation, has started working. The two countries are implementing joint projects in the light, food, green energy, health and other industries.
The parties discussed promising areas to boost trade, economic and investment cooperation, including such strategic areas as trade, construction, mining, energy, oil and gas, green energy generation and export and agriculture.
