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Azerbaijan, Uzbekistan Industrial Cooperation Agreement

Friday 29 January 2021

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BAKU (Trend) — Outstanding details of the Agreement between governments of Azerbaijan and Uzbekistan on industrial cooperation were completed owing to systematic interaction between the countries, Trend news agency reports referring to the Ministry of Investment and Foreign Trade of Uzbekistan.

According to ministry, the main purpose of the agreement is to strengthen cooperation ties between entrepreneurs of the two countries in the field of metallurgy, chemical and oil and gas industries and other sectors of the economy of mutual interest.

On January 27, Uzbek-Azerbaijani business forum took place in the format of video-conference.

The forum organizers were the Uzbek Ministry of Investments and Foreign Trade, the Agency for Attracting Foreign Investments of Uzbekistan under the ministry, the Azerbaijani Ministry of Economy and the Export and Investment Promotion Fund (AZPROMO) of Azerbaijan.

Participants of the event were First Deputy Minister of Investments and Foreign Trade of Uzbekistan Laziz Kudratov, heads of the Agency for Attracting Foreign Investments and the Agency for Export Promotion, Deputy Minister of Economy of Azerbaijan Rovshan Najaf, head and specialists of AZPROMO, as well as ambassadors of both countries.

Opening the event, Rovshan Najaf noted that despite a number of restrictions introduced in connection with the COVID-2019 pandemic, trade between countries in 2020 grew by 12%.

There were also noted the measures being taken to create a transparent business environment, combat corruption, improve the investment climate and gradually reduce the role of the state in the economy.

Within the agenda of the forum’s official part, issues related to the organization of joint events scheduled for holding this year were comprehensively considered, including the 11th meeting of the Intergovernmental Commission between Uzbekistan and Azerbaijan on trade and economic cooperation and the International Exhibition of National Products Made in Uzbekistan to be held in Baku.

In addition, as part of the business forum program, panel sessions in the B2B format were held to discuss issues of developing business cooperation. The negotiations were attended by such Azerbaijani companies as Azersun Holding, Lu-Mun Holding, Cahan Holding, Neqsol Holding, Evrascon, Azermash, Uzbek companies Uzkabel, Artel, Silk Road International, Agroexport Gold Fruits, as well as other representatives of the business communities of the two countries.


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