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Uzbekistan-Azerbaijan trade turnover up by almost 60%, says minister

20 November 2018 12:08 (UTC+04:00)
Uzbekistan-Azerbaijan trade turnover up by almost 60%, says minister

By Abdul Kerimkhanov

Volume of mutual trade between Uzbekistan and Azerbaijan grew by almost 60 percent over the first three quarters of 2018.

Uzbekistan significantly increased trade with the countries of the Central Asian Regional Economic Cooperation (CAREC) in the first three quarters of 2018, Uzbek media reported with reference to the words of the Minister of Foreign Trade, Jamshid Khojaev.

During the CAREC ministerial conference in Ashgabat, Khojaev noted that trade with CAREC member countries is growing at an accelerated pace. Over the three quarters of this year, the volume of mutual trade between Uzbekistan and Pakistan and Mongolia more than doubled, with Tajikistan it grew by almost 60 percent, with Kazakhstan and Kyrgyzstan - by more than 45 percent, with China - by about 30 percent, with Turkmenistan - by 17 percent, with Afghanistan - by 11 percent.

In this regard, he noted, the joint efforts of countries should be focused primarily on mutual trade facilitation, elimination of various trade barriers, both technical and sanitary, phytosanitary, which often become insurmountable and their removal requires considerable effort, money and time.

The minister also added that Uzbekistan is committed to further liberalization of trade and promotion of open markets.

Diplomatic relations between Uzbekistan and Azerbaijan were established on October 2, 1995. To date, more than 110 bilateral documents have been signed between the two countries.

At the end of 2017, the trade turnover between the two countries amounted to $31.2 million, of which $26.2 million was accounted for exports of Uzbek goods and only $4.9 million fell for imports.

Uzbekistan supplies vehicles, non-ferrous metals, pharmaceutical products, fertilizers, electrical and mechanical appliances, agricultural products to Azerbaijan, and renders services in the transport, tourism and other spheres. Azerbaijan's export to Uzbekistan mainly consists of mechanical appliances, confectionery products, various organic and chemical compounds, tanning and dyeing extracts.

There are more than 80 enterprises in Uzbekistan with the participation of Azerbaijani investments, including 71 joint ventures and 11 enterprises have full Azerbaijani capital. They operate in such areas as trade, engineering, metalworking, finance, energy, services, food and light industry.

Two Uzbek enterprises have been established in Baku, including the representative office of Uzbekistan Airways and the Uzavtosanoat dealer company Uzavto Baku LLC.

Thus, over the past period of 2018, both countries maintained active contacts in a wide range of areas. These include the visits to Azerbaijan of the delegations of Uzbekistan led by first Deputy Chairman of Senate of Parliament of Uzbekistan Sadig Safayev, Deputy Speaker of the Legislative Chamber of the Parliament Sarvar Otamuratov, Minister of Employment and Labor Relations Sherzod Kudbiyev, Defense Minister Abdusalom Azizov, Minister of Culture Bakhtiyor Sayfullaev, Interior Minister Pulat Babajanov and others.

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