President Aliyev: Investing in Uzbekistan priority for Azerbaijan

During the state visit of Uzbekistan’s President Shavkat Mirziyoyev to Azerbaijan, President Ilham Aliyev highlighted the importance of investing in Uzbekistan and the close brotherly relations between the two countries.

“For Azerbaijan, investing in Uzbekistan is a priority. Firstly, because Uzbekistan is a friendly, brotherly country. Secondly, thanks to the well-considered reforms implemented by the President of Uzbekistan, a very favorable investment climate has been established,” President Aliyev said during a joint press statement on July 2, Caliber.Az reports via local media.

He emphasised that Uzbekistan has become a highly attractive destination for investment, noting the growing pipeline of joint projects. “Today, we once again confirmed our intention to significantly increase both trade turnover and mutual investments. The joint investment fund established some time ago is already practically filled with projects. Today, it was reported that more than 10 projects are at the stage of final investment decisions. Of course, we see this as only the beginning, as the authorized capital of the investment fund is $500 million. Our plans exceed this figure several times over, and I am confident that the joint implementation of projects in energy, the hotel industry, construction, agriculture, and other areas - projects that already have clear prospects, agreements, and signed contracts - will lead to substantial growth in mutual investments. This fully reflects our shared intention and is in complete harmony with the spirit and nature of the brotherly relations between our countries,” President Aliyev said.

Highlighting the significance of the visit, he added, “Today marks a significant day in the history of relations between Uzbekistan and Azerbaijan. The state visit of the President of Uzbekistan is taking place, as it should, in an atmosphere of brotherhood and mutual understanding.”

President Aliyev also reflected on the strategic alliance between the two nations. “Today, both during our one-on-one meeting and at the Interstate Council session, we discussed a broad range of issues concerning bilateral cooperation and once again reaffirmed the strategic, allied nature of our relations. Last year in Tashkent, we signed the Treaty on Allied Relations, the highest and most significant document in relations between any countries. We have officially been allies for about a year now, and we demonstrate this through active cooperation on the international stage, mutual support, and the concrete plans and projects we are implementing across many sectors.”

The Azerbaijani leader praised the progress Uzbekistan has made under President Mirziyoyev’s leadership. “We are watching with great interest and joy the rapid development of Uzbekistan and the implementation of large-scale reforms across all areas. We are pleased to see Uzbekistan’s image on the international stage rising year by year, its economic potential growing, and many social issues being successfully addressed,” President Aliyev stated.

He added, “All of this is the result of the well-thought-out policy of the President and leadership of Uzbekistan. It is reflected in concrete programs. As friends and brothers, we are sincerely pleased by this.”

In addition to investment and trade, Azerbaijan and Uzbekistan agreed to maintain regular dialogue and work jointly to coordinate their transport policies with neighboring countries. President Aliyev said, “We also had an in-depth discussion on the transport and logistics sector, taking into account both current capacities and future projects that will lead to the creation of a more extensive and diversified transport infrastructure in Central Asia, with a route across the Caspian to Azerbaijan and further westward.”

“We agreed to continue coordinating our projects not only bilaterally, to ensure our infrastructures are prepared to handle large volumes of cargo, but also multilaterally – to engage in regular dialogue and joint work on transport policy coordination with neighboring countries,” he added.

President Aliyev also expressed his gratitude to Uzbekistan for its support in the revival of the Karabakh region. “We express special gratitude for the assistance in the revival of Karabakh. Uzbekistan was the first country, and President Mirziyoyev was the first leader in the world to take the initiative to provide aid for the restoration of the Karabakh region. The first social and educational infrastructure project – a school built by Uzbekistan, which Shavkat Miromonovich and I inaugurated – bears the name of the great son of the Uzbek people, Mirzo Ulugbek. Today, children who have returned to the land of their ancestors study there,” President Aliyev said.

By Vugar Khalilov