Azerbaijan-Uzbekistan trade soars as new ventures flourish

Uzbek Minister of Investment, Industry, and Trade, Laziz Kudratov, met with Azerbaijani Ambassador Huseyn Guliyev on September 10, highlighting the growing partnership between the two countries.

Both sides emphasized the importance of fostering ties between business communities and enhancing interregional cooperation, Caliber.Az reports via local media.

According to the Uzbek Ministry, trade turnover between Azerbaijan and Uzbekistan increased by 26.5% by the end of 2023. Currently, 230 enterprises with Azerbaijani capital operate in Uzbekistan, spanning sectors such as trade, engineering, finance, energy, real estate, and industry.

The meeting also addressed the ongoing implementation of large, mutually beneficial investment projects.

Both parties reviewed progress in sectors including urban infrastructure, industrial production, the chemical industry, and IT, in line with agreements made during Azerbaijani President Ilham Aliyev's state visit to Uzbekistan in August.