Azerbaijan, Uzbekistan discuss boosting economic cooperation and joint projects

Azerbaijani Ambassador to Uzbekistan Huseyn Guliyev held discussions with Uzbek Minister of Investment, Industry and Trade Laziz Kudratov on March 3, 2025, focusing on enhancing trade, economic, and investment cooperation between their two nations.

The meeting took place amid growing bilateral ties, Caliber.Az reports, citing Uzbek media.

"During the talks, the sides considered measures on timely implementation of existing agreements, as well as prospects of strengthening trade-economic and investment cooperation with a focus on broad involvement of representatives of business circles of the two countries in this process," stated the report.

Key topics during the meeting included the implementation of previously agreed-upon projects in urban development, tourism, and agriculture, sectors where both countries are looking to deepen their collaboration. They also discussed the acceleration of these projects and the support for new investment ventures, ensuring that business representatives from both Azerbaijan and Uzbekistan would play an active role in the process.

The meeting also underscored the positive dynamics in investment cooperation. "Currently, 257 enterprises with Azerbaijani investments operate in Uzbekistan, including 56 joint ventures and 201 enterprises with 100% Azerbaijani capital," the report highlighted. These figures show the growing presence of Azerbaijani business interests in Uzbekistan, and both sides acknowledged the potential for significantly increasing these numbers in the near future.

"Noting the presence of a huge potential for a multiple increase in these indicators, the sides agreed on plans to promote promising projects among the business communities of Uzbekistan and Azerbaijan," the report continued, stressing the shared interest in tapping into further opportunities for mutual growth.

In addition to these discussions, both sides agreed on mutual measures to hold the 14th meeting of the Joint Intergovernmental Commission (JIC) on cooperation in the first half of 2025, signalling a commitment to continued dialogue and partnership. They also discussed other events within the broader framework of bilateral Uzbek-Azerbaijani multifaceted cooperation.

Following the meeting, it was clear that both countries remain dedicated to fostering stronger economic ties, with plans to prioritize new initiatives and deepen collaboration across various sectors in the coming years.

By Tamilla Hasanova