Azernews.Az

Qabil Ashirov

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Next week, Azerbaijan and Uzbekistan will convene a meeting of the Intergovernmental Commission, the principal institutional mechanism for coordinating bilateral cooperation between the two nations, Azernews reports, citing Elnur Aliyev, First Deputy Minister of Economy of Azerbaijan, during the panel session titled “Azerbaijan–Uzbekistan: Vector of Economic Partnership” at the 4th Tashkent International Investment Forum.

Aliyev emphasized that high-level visits between Azerbaijan and Uzbekistan have become a tradition, reflecting the deepening of bilateral relations.

Highlighting the positive trade momentum, he noted a significant increase in trade turnover.

“The volume of trade has already reached nearly a quarter of a billion dollars. More importantly, our data show that over the past four months, this figure has tripled compared to the same period last year,” Aliyev stated.

He underscored the importance of institutional mechanisms in supporting this growth.

“The Intergovernmental Commission is a vital instrument that contributes to developing cooperation between our institutions,” he said.

Aliyev also pointed to the joint investment fund—capitalized at nearly $500 million—as another key mechanism of economic collaboration. Under the supervision of the fund’s oversight board, Azerbaijani and Uzbek representatives have already identified 12 concrete investment projects.

To further bolster bilateral ties, Aliyev announced that Azerbaijan plans to open a trade representative office in Uzbekistan.

“This will be Azerbaijan’s sixth trade mission abroad, and we are confident it will give fresh impetus to the development of our economic relations,” he concluded.