TASHKENT (Trend) – Uzbek and Azeri officials exchanged views on the current level and the development of bilateral economic relations, Azerbaijan embassy in Uzbekistan told Trend.

Shahin Mustafayev, Azerbaijan’s Economy and Industry Minister met Ulugbek Razukulov, Uzbekistan’s Deputy Prime Minister to discuss further expansion of cooperation as part of his visit to Tashkent. Huseyn Guliyev, Azerbaijani Ambassador to Uzbekistan attended the meeting. As part of the visit, Mustafayev also met Galina Saidova, the Economy Minister and Elyor Ganiev, the Minister of Foreign Economic Relations, Investments and Trade Elyor Ganiev.

According to latest available figure, the trade turnover between Azerbaijan and Uzbekistan amounted to $19.2 mln in January-April 2014. A total of $11.67 mln of goods were exported to Uzbekistan while the import from Uzbekistan amounted to $7.53 mln in the same period. The trade turnover between the two countries constitutes $50 mln. Uzbekistan has the opportunity to increase its volume of export of grain, cotton, fertilizers, to Azerbaijan. Azerbaijan, for its part, can sell petroleum products to Uzbekistan and take part in the projects for production and exploration of hydrocarbons in this country.

During the meeting, both sides exchanged views on expansion of economic cooperation, development of relations in the field of transport, carrying Uzbek cargo through Azerbaijan to the world market, increasing the volume of trade exchange, the sale of cars of different brands that manufactured in Uzbekistan and a number of other issues.

The sides as well highlighted the two countries’ national exhibitions held in Tashkent and Baku a few years ago. These exhibitions reflected the economic achievements of Azerbaijan and Uzbekistan. The trade turnover between the two countries after the exhibitions almost doubled, and further work in this direction is underway. The sides as well expressed the necessity of organizing new exhibitions and holding business forums in Baku and Tashkent in terms of new opportunities for further development of cooperation.

Since the establishment of diplomatic relations in October 1995, the two countries have signed over 100 bilateral documents.