Azernews.Az

TASHKENT – Uzbekistan’s national exhibition being held in Azerbaijan will play an important role in strengthening relations between the two countries and boosting bilateral trade turnover, Uzbek Minister of Trade Elyor Ganiev has said.

Ganiev told the opening of the exhibition on Friday that Uzbekistan is known as the Asian industrial leader, while Azerbaijan is the fastest-growing economy in the South Caucasus region. He said that Azerbaijan’s dynamic growth has turned the country into Uzbekistan’s important economic partner.

"There is vast potential today for increasing Uzbekistan-Azerbaijan trade and deepening economic relations. We are considering exhibitions as a platform for expanding bilateral cooperation. We are confident that these exhibitions will be a crucial stage in cooperation and a basis for agreeing upon the signing of agreements between our countries."

Ganiev said long-term cooperation between Uzbekistan and Azerbaijan that is currently being paved will not be confined to trade transactions. The two countries plan to implement joint projects as well.

Azerbaijani First Deputy Prime Minister Yagub Eyyubov said the idea to organize national exhibitions had emerged due to the bilateral commodities turnover being below desired level, and the two countries are seeking to increase the figure.

The Azerbaijani-Uzbek trade turnover made up $46.3 million in 2009.

"A number of agreements were signed during Azerbaijan’s First National Exhibition held in Tashkent November 5-7," Eyyubov said. "This opened access for Azerbaijani goods to the Uzbek market."

Azerbaijan and Uzbekistan are expected to sign agreements during the Baku event as well, paving the way for establishing a common market between the two countries.

300 companies are displaying more than 3,000 goods at the exhibition, which will run until Sunday.