The Forum was co-chaired by Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, from the Uzbek side, and Mikail Jabbarov, Minister of Economy of the Republic of Azerbaijan, from the Azerbaijani side.
Welcoming the participants, Laziz Kudratov focused on the significant increase in the indicators of multifaceted Uzbek-Azerbaijani cooperation. Thus, there has been a threefold increase in the volume of Uzbek-Azerbaijani trade over the past 5 years, and since the beginning of 2024 - by another 15%. The countries are confidently moving towards the $1 billion mark of trade turnover in the near future.
There is an increase in investment cooperation. In recent years, the number of joint ventures has increased fivefold. Today, over 240 enterprises with Azerbaijani capital operate in Uzbekistan. Based on the joint experience, joint projects for the production of cars, textile and sericulture clusters in Azerbaijan, projects for the production of plasterboard and jewelry in Uzbekistan have been launched.
New directions for the development of cooperation have been identified. First of all, it is the deepening of trade relations based on the complementarity of economies, including an increase in trade in petrochemical products and food, electrical engineering, textiles and pharmaceuticals. Secondly, it is the implementation of joint industrial cooperation projects in the fields of light industry, agriculture, pharmaceuticals, electrical engineering, mechanical engineering, chemical and jewelry industries using the advantages of the FEZ.
An Uzbek-Azerbaijani investment company with a capital of $500 million plays a major role in stimulating the implementation of joint projects.
Prospects for expanding transport and logistics ties and tourism were noted, which will be facilitated by the launched flights between the capitals of the two countries and such historical cities of Uzbekistan as Samarkand, Urgench and Ferghana.
The speakers expressed their commitment to further deepening high-quality cooperation with Azerbaijan and readiness to provide comprehensive support for the implementation of joint projects.
On the sidelines of the forum, Laziz Kudratov held talks in a narrow format with the Minister of Economy of the Republic of Azerbaijan Mikail Jabbarov, during which upcoming joint projects were discussed in detail, concrete measures were outlined and responsible leaders were identified.
The event also included presentations of the investment and industrial potential of the regions of the two countries and negotiations in the B2B and G2B format, where entrepreneurs were able to make new acquaintances and discuss practical aspects of mutually beneficial cooperation.
Following the results of the Interregional Forum, memoranda of understanding on cooperation in trade, economic, cultural and humanitarian spheres were signed between Termez and Bilasuvar, Namangan and Mingachevir, Gulistan and Fuzuli, as well as investment agreements and trade contracts in the field of agriculture and textile industry.
