By Azernews

By Ayya Lmahamad

Azerbaijani and Uzbek businesswomen have signed 19 agreements and memorandums worth over $54 million, Azernews reports, with reference to the Uzbek media.

The contracts were signed within the Azerbaijani-Uzbek business forum of women entrepreneurs, which covered almost all sectors of the economy, in particular, industry, services, agriculture, etc.

At the end of the event, a memorandum of understanding on the development of bilateral relations was signed between the Uzbek Women Entrepreneurs' Club under the Commission on Enhancing the Role of Women in Society, Gender Equality and Family, and Azerbaijan's Association for the Development of Women Entrepreneurship.

According to representatives of both countries' delegations, the forum became an important and relevant platform for the exchange of experience and discussion of current issues on the development and capacity building of entrepreneurship in various fields in both countries.

Earlier it was reported that Azerbaijan and Uzbekistan are planning to establish joint ventures that will promote their products to foreign markets.

During the recent visit of Azerbaijan's President Ilham Aliyev to Uzbekistan, documents were signed between the entrepreneurs of the two countries in excess of $500 million.

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.