At the 14th meeting of the Joint Intergovernmental Commission on Cooperation between the Republic of Azerbaijan and the Republic of Uzbekistan, held at the Ministry of Economy, the efforts to diversify bilateral economic and trade relations were reviewed.

The 14th meeting of the Joint Intergovernmental Commission on Cooperation between the Republic of Azerbaijan and the Republic of Uzbekistan was held at the Ministry of Economy.

Co-chair of the Joint Intergovernmental Commission and Minister of Economy Mikayıl Cabbarov emphasized that the political will of our heads of state, high-level visits, and agreements reached play a special role in expanding Azerbaijan-Uzbekistan relations. The activities of the Joint Intergovernmental Commission in this direction were positively evaluated, and it was noted that new tasks lie ahead for further strengthening the partnership.

It was noted that economic and trade relations between our countries continue to show a positive and steady dynamic. In the first five months of this year, the trade turnover with Uzbekistan increased more than threefold compared to the same period last year. Investment cooperation remains an important direction. The Azerbaijan-Uzbekistan Investment Company opens additional opportunities for joint financing of projects in our countries and the region. Currently, the company is reviewing 15 promising projects across various sectors.

Significant achievements have been made in joint projects with Uzbekistan in the field of automobile manufacturing. “Azarmash” JSC and “Uzavtosanoat” JSC continue their work at the Hajıgabul Industrial Park for the production of “Chevrolet” branded cars and their spare parts. In 2023, the foundation-laying ceremony for the second automobile manufacturing plant at the industrial park was held, and construction of the facility is currently underway. To date, nearly 8,900 vehicles have been produced under the cooperation with “Uzavtosanoat” JSC. Additionally, information was provided on successful collaboration in establishing a cotton-growing cluster in Azerbaijan, as well as ongoing and potential investment projects in construction and other sectors.

The co-chair of the intergovernmental commission, Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, emphasized his country’s successful partnership relations with Azerbaijan across various sectors. He shared his views on the development of cooperation in new directions, increasing trade turnover, expanding collaboration between business circles, and the implementation of joint projects.

At the meeting, discussions were held on diversifying economic and trade relations, promoting investments, the current state of cooperation in various sectors such as industry, energy, agriculture, and other fields, as well as prospects for future development.

At the conclusion of the event, the co-chairs of the Joint Intergovernmental Commission signed a Protocol summarizing the results of the meeting. The document envisions strengthening cooperation in economic and trade relations, energy, transportation, innovations and public services, healthcare and pharmaceuticals, agriculture, food security, cultural-humanitarian and social sectors, tourism, media, and communications.