Azernews.Az

By Amina Nazarli

Azerbaijan and Uzbekistan are holding talks on increasing the trade turnover.

This statement was made by Jahangir Aminov, the counselor of Uzbekistan’s Embassy in Baku on economy and politics at the briefing on August 4.

He said the current volume of trade turnover between the two countries is too small and doesn’t meet the existing potential.

Aminov went on saying that Azerbaijan and Uzbekistan want to increase their export potential, thus offering new products for export.

The counselor expressed hope that the talks will bring results soon. “Likely, we will even open a Trading House in Azerbaijan,” he said.

Uzbekistan mainly exports cars, buses, spare parts, equipment and agricultural products to Azerbaijan, according to Aminov. Azerbaijan, for its part, exports chemical and oil industry products and equipment to Uzbekistan.

He said that currently, the sides are discussing the ways of adding new products to the bilateral trade turnover. Uzbekistan intends to export grain and various types of textile industry products, in particular, carpets to Azerbaijan.

The diplomatic relations between two countries were established in October 1995. The two countries have signed over 100 bilateral documents.

The trade turnover between Azerbaijan and Uzbekistan stood at $61.512 million ($23.612 million – import, $37.9 million – export) in 2014, according to Azerbaijan ’s State Customs Committee.

The trade turnover between the two countries was $21.448 million in 2013.

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