Azernews.Az

Friday March 29 2024

Azerbaijan, Uzbekistan work on projects worth $355 million

11 March 2020 11:59 (UTC+04:00)
Azerbaijan, Uzbekistan work on projects worth $355 million

By Ofeliya Afandiyeva

Azerbaijan and Uzbekistan are preparing mutual projects worth $355 million, the official website of the President of Uzbekistan reported.

According to the information, President of Uzbekistan Shavkat Mirziyoyev held a meeting to discuss the prospects for the development of bilateral investment, trade and economic cooperation with Azerbaijan and Russia on March 9.

Mirziyoyev stated that in recent years, indicators of mutual trade and investment with these countries have been steadily growing. Thus, the volume of bilateral trade between Azerbaijan and Uzbekistan increased by 55.7 percent by the end of 2019.

The head of the state mentioned that the investment cooperation was also strengthening: “Currently, the number of enterprises operating with Azerbaijani capital in our country is 178.”

The president stressed that that in the framework of establishing industrial cooperation with the Azerbaijani partners, projects worth more than $355 million were being worked out: “In particular, it is planned to organize the assembly of cars and buses. Mutually beneficial cooperation in the oil and gas sector is developing as well.”

In addition, Mirziyoyev urged that the meeting of the Joint Intergovernmental Commission on Cooperation between Azerbaijan and Uzbekistan be held on March 16-17.

The president gave instructions to intensify trade and investment cooperation with leading Azerbaijani companies and organizations and to develop new areas of cooperation with them.

Moreover, the head of the state spoke about significance to collaborate with Azerbaijan in the fields of agricultural industry, viticulture and winemaking, jewelry industry, oil and gas, transport and logistics, as well as education.

During the meeting, the need to compile the contents of these events was emphasized and the priority tasks for the effective organization of work were defined.

At the meeting, special attention was paid to the timely and high-quality implementation of existing projects and the development of new proposals to deepen bilateral cooperation with Azerbaijan and Russia in the investment, trade and transport and logistics areas.

It should be noted that about 30 companies with Uzbek capital operate at present in the field of transit, trade, industry and services of Azerbaijan.

The joint intergovernmental commission on cooperation between Azerbaijan and Uzbekistan is a favorable platform for expanding cooperation.

Azerbaijan and Uzbekistan have created a solid legal framework and have signed more than 110 documents covering various fields.

The diplomatic relations between Azerbaijan and Uzbekistan were established on October 2, 1995.

---

Follow us on Twitter @AzerNewsAz

Loading...
Latest See more