Uzbekistan, Azerbaijan working on $10 billion joint investment package, envoy says

Uzbekistan and Azerbaijan are working to assemble a joint investment package worth $10 billion to support co-operative business projects between companies in the two countries, Uzbekistan’s ambassador to Azerbaijan has said.

Ambassador Bakhrom Ashrafkhanov said the initiative aims to strengthen economic ties and expand commercial collaboration between Uzbek and Azerbaijani enterprises, Caliber.Az reports via local media.

“We are already working to form an investment package worth $10 billion for joint projects between Uzbek and Azerbaijani companies. At the same time, we have set a goal of increasing bilateral trade turnover to $1 billion,” the diplomat said.

According to Ashrafkhanov, co-operation between the two countries is being carried out under a jointly agreed roadmap covering a wide range of activities.

These include regular consultations between foreign ministries, preparations for meetings of the Supreme Interstate Council, and the organisation of sector-specific events such as business and inter-regional forums.

The roadmap also includes consultations in healthcare and meetings involving the scientific community, aimed at broadening bilateral co-operation beyond trade and investment.

By Aghakazim Guliyev