Uzbek Minister: Enhancing cooperation with Azerbaijan priority

By Nazrin Abdul

Uzbekistan is working to improve the status of bilateral cooperation with Azerbaijan, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov said at the opening of the Second Azerbaijan-Uzbekistan Interregional Forum in Guba, Azernews reports.

Kudratov mentioned, "Preparations are underway for a state visit to Uzbekistan by Azerbaijani President Ilham Aliyev in August. This visit is expected to yield significant outcomes, elevating our relations to a higher level."

He further assured that Uzbekistan's government will maintain favorable conditions for Azerbaijani companies operating in the country.

Kudratov highlighted the significance of establishing a joint Azerbaijan-Uzbekistan investment company in 2023, describing it as "a crucial mechanism to support various initiatives."

Regarding transportation cooperation, he noted, "Collaboration in the transport sector is another key aspect of Azerbaijan-Uzbekistan relations. We've initiated direct air routes and are substantially increasing transportation via Azerbaijan's infrastructure. This year, we anticipate transporting over 1 million tons of Uzbek cargo through this route, compared to 300,000 tons in the first quarter. We appreciate the benefits and preferences extended by Azerbaijan to Uzbek companies, facilitating our increased utilization of this route.

Further the speeches at the forum, Zafarkhodja Tursunov, the Deputy Head of Tashkent (Republic of Uzbekistan), said that the number of enterprises with Azerbaijani capital in Tashkent has reached 180.

He noted that Azerbaijani entrepreneurs are particularly interested in projects within the construction, service, and industrial sectors.

"Tashkent's mutual trade turnover with Azerbaijan exceeded $80 million last year and surpassed $25 million in the first quarter of this year. In 2023, over 8,000 tourists from Azerbaijan visited Tashkent. However, we acknowledge that these results align with our potential. Therefore, we should seize the opportunities available to expand our trade and economic cooperation," stated Z. Tursunov.

According to the State Customs Committee, trade turnover between Azerbaijan and Uzbekistan amounted to $178.8 million last year and reached $35.8 million in January-March 2024.