Azerbaijan, Uzbekistan discuss prospects for establishing joint ventures

A meeting has been held between Deputy Chairperson of the Chamber of Commerce and Industry of Uzbekistan Dilshoda Rasulova and Chairman of the Board of the Economic Scientific Research Institute under the Azerbaijani Economy Ministry Shahin Sadigov.

The sides discussed increasing mutual trade turnover and attracting investments on November 5, 2024, Caliber.Az reports via local media. 

The strengthening of the trade and economic ties between Uzbekistan and Azerbaijan, increasing the bilateral trade turnover volume, and encouraging foreign investments were discussed.

The discussions also focused on the potential for showcasing Uzbek products on the Azexport digital exhibition platform, developed by Azerbaijan’s Centre for Analysis of Economic Reforms and Communication. Both sides explored the possibility of organising an online exhibition stand for Uzbek goods.

Moreover, the two sides examined the prospects of establishing joint ventures involving companies from both countries, aiming to boost the export of goods from Uzbekistan and Azerbaijan to their respective domestic markets. 

Following the talks, the sides agreed to explore concrete steps toward the creation of joint ventures and to further strengthen mutual cooperation between their organisations.

Sadigov also held a meeting with Uzbekistan's Deputy Minister of Economy and Finance Otabek Fazilkarimov, during which they announced the signing of a joint action plan for cooperation between Uzbekistan’s State Pension Fund and Azerbaijan’s State Social Protection Fund, part of the Azerbaijani Ministry of Labour and Social Protection of Population.  

Following the meeting, the two sides agreed to collaborate on studying Azerbaijan’s experience in implementing the Smart Industry Readiness Index.

Moreover, they exchanged views on expanding cooperation and sharing best practices in education, healthcare, social protection, and human capital development.

By Naila Huseynova