Azerbaijan, Uzbekistan ink MoC on digitalization projects

By Azernews

By Ayya Lmahamad

The Center for Analysis and Coordination of the Fourth Industrial Revolution under Azerbaijan’s Economy Ministry and the Research Center of Digital Economy of Uzbekistan have signed a memorandum of cooperation, Azernews reports.

The document was signed within the framework of the ICTWeek Uzbekistan summit at the Eurasian Forum in Samarkand.

The memorandum provides for the exchange of experience in the digital economy and 4IR technologies, joint research, organization of training and events, the implementation of joint initiatives and projects on digitalization and fintech.

During the meeting between the centers’ representatives, issues of cooperation in the development of venture capital were also discussed.

Diplomatic relations between Azerbaijan and Uzbekistan were established on October 2, 1995. The embassy of Azerbaijan in Uzbekistan was established in August 1996, while the embassy of Uzbekistan in Azerbaijan was opened in July 1998.

The friendly relations between the two countries are based on shared values ??and historical ties, as well as a number of joint statements and agreements signed during bilateral visits and meetings.

The volume of trade turnover between Azerbaijan and Uzbekistan amounted to $111.9 million in 2021.