Azerbaijan, Uzbekistan discuss urgent tasks to develop cooperation

Uzbek Deputy Prime Minister, Investments and Foreign Trade Minister Jamshid Khodjayev have held a meeting with Azerbaijani Economy Minister Mikayil Jabbarov, who is in Uzbekistan on a working visit.

During the meeting, issues of increasing bilateral cooperation in the investment, trade and economic sphere, transport and logistics were discussed, UZ DAILY news agency reports.

The sides stressed the importance and effectiveness of Azerbaijani President Ilham Aliyev's visit to Uzbekistan in June this year. Direct dialogue at the highest level allowed the parties to intensify bilateral cooperation in all available areas, as well as to identify new "growth points" of mutually beneficial partnership.

During the conversation, it was announced that over the past five years, the number of joint ventures established in Uzbekistan with Azerbaijani capital has increased four times and amounted to 243 units. In turn, 70 enterprises with the participation of Uzbek capital operate in Azerbaijan. The parties agreed to intensify efforts for the timely and high-quality implementation of 87 joint projects and trade contracts worth over $ 500 million in the oil and gas industry, chemical industry, textile sector and agriculture.

In addition, during the dialogue, the parties confirmed their intentions to continue implementing the initiative to create an Uzbek-Azerbaijani Investment Fund, in connection with which they agreed to develop and approve a roadmap for organising its activities as soon as possible, as well as to begin developing an appropriate Intergovernmental agreement.

During the discussion of prospects for strengthening transport and logistics ties, the negotiators agreed to intensify cooperation within the framework of the Intergovernmental Agreement on International Road Transport between Uzbekistan and Azerbaijan, as well as to accelerate the transportation of wagons with goods for Uzbekistan across the Caspian Sea on the KASPAR ferries.

In a separate order, the parties discussed prospects for expanding interregional cooperation, bearing in mind the organisation of an exhibition of national goods in November this year in Tashkent, as well as the holding of the first forum of the regions of Uzbekistan and Azerbaijan at a high substantive level, with preliminary preparation of a package of investment projects, as well as specific proposals for the development of cooperation between the regions of the two countries.

Following the meeting, a commitment was expressed to continue joint work in all areas discussed to achieve specific results in the development of the economic partnership.