Azerbaijan, Uzbekistan to create joint venture for geological exploration PHOTO

Azerbaijan and Uzbekistan have signed heads of terms for creating a joint venture focused on geological exploration, Azerbaijani Economy Minister Mikayil Jabbarov announced following talks with Uzbekistan's Minister of Investment, Industry and Trade, Laziz Kudratov.

In a post on X, the minister said that during his visit to Uzbekistan, where he took part in the 15th meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission on Cooperation, he exchanged views on further deepening the economic partnership between the two countries, Caliber.Az reports.

During our working visit to Uzbekistan, together with Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, we participated in the 15th Meeting of the #Azerbaijan–#Uzbekistan Joint Intergovernmental Commission on Cooperation.

Guided by the priorities set by… pic.twitter.com/5VzNbS17pX

— Mikayil Jabbarov (@MikayilJabbarov) July 17, 2026

Jabbarov noted that they discussed developing new production and value chains between Central Asia and the South Caucasus, strengthening transport and logistics connectivity within the framework of the Middle Corridor, and expanding investment cooperation.

The meeting concluded with the signing of a protocol aimed at enhancing cooperation across a range of strategic sectors, including trade and economic relations, energy, transport, agriculture, food security, healthcare, environmental protection and other areas of mutual interest.

The minister also highlighted the signing of heads of terms for a trilateral joint venture involving AzerGold CJSC, Uzbekgeologorazvedka JSC and the Azerbaijan-Uzbekistan Investment Company to undertake geological exploration projects.

"In addition, Heads of Terms were signed for the establishment of a trilateral joint venture involving AzerGold CJSC, Uzbekgeologorazvedka JSC, and the Azerbaijan–Uzbekistan Investment Company to carry out geological exploration activities," the minister remarked.

By Bakhtiyar Abbasov