Baku, Tashkent mull expanding ties among business communities

By Azernews

By Ayya Lmahamad

Azerbaijan and Uzbekistan have discussed issues on developing relations between the business communities of the two countries, Azernews reports.

During the meeting between Azerbaijan's Agency for Small and Medium Business Development Board Chairman Orkhan Mammadov with Uzbekistan's Chamber of Commerce and Industry Head Davron Vakhabov, who is on a visit to Baku, they expressed mutual interest in developing bilateral relations.

The parties discussed the issues regarding the organization of joint events, including business missions and roundtables. In addition, they discussed the exchange of information on public-private partnership projects and their experience in providing services to entrepreneurs.

Moreover, Davron Vahabov also held a meeting with Azerbaijan's National Confederation of Entrepreneurs Vice President Vugar Zeynalov.

The sides touched upon the prospects of strengthening business ties between the two countries and the establishment of joint ventures in areas of mutual interest.

The volume of trade turnover between Azerbaijan and Uzbekistan amounted to $111.9 million in 2021. Presently, around 195 Azerbaijani enterprises are represented in Uzbekistan, 69 of which have joint capital and 126 of them have 100 percent Azerbaijani capital.