Azerbaijani minister highlights growth of cargo traffic with Uzbekistan

Honorary Consul of Uzbekistan in Azerbaijan Kanan Jalilov has said that Azerbaijan may invest over $500 million in Uzbekistan’s construction sector.

Jalilov made these remarks at the Uzbek-Azerbaijani business forum being held in Tashkent, Caliber.Az reports citing the local media.

Azerbaijan’s Economy Minister Mikayil Jabbarov noted that the growth in freight traffic between the two countries is around 25-30 per cent.

“The established transport and logistics communications are delivering the results we anticipated. We see that the volume of cargo transportation in the region is steadily increasing by 25-30 per cent in both directions,” the minister stated.

Jabbarov also announced that a textile manufacturing facility will soon be launched in Khankendi city, an investment project being implemented by an Uzbek company.

During the forum, the discussion included the opening of trade houses and showrooms in Baku, Shusha, Tashkent, and Samarkand.

"Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, stated that Tashkent is ready to explore and process mineral resources in Azerbaijan, as well as produce construction materials for use in reconstruction efforts in the liberated Azerbaijani territories.

Kudratov also extended an invitation to Azerbaijani companies to participate in the development and extraction of non-ferrous metal deposits in Uzbekistan.

“We invite Azerbaijani companies to engage in the exploration and extraction of non-ferrous metals, including copper deposits. Cooperation in the energy and oil and gas sectors is progressing intensively,” Kudratov added.