Azerbaijan can invest more than $500 million in Uzbekistan's construction sector, Kanan Jalilov, the Honorary Consul of Uzbekistan in Azerbaijan, said at the Uzbek-Azerbaijani business forum in Tashkent, Report informs, citing Sputnik Uzbekistan.
According to Azerbaijan's Minister of Economy Mikayil Jabbarov, the growth rate of cargo traffic between our countries is around 25-30%.
"The established transport and logistics communications give us the results we expected. We see that the volume of cargo transportation in the region is steadily increasing by 25-30% in both directions," said the minister.
Jabbarov also stated that a textile production facility will soon open in the city of Khankandi, as part of an investment project being implemented by a Uzbek company.
During the forum, the sides also discussed the issue of opening trade houses and showrooms in Baku, Shusha, Tashkent, and Samarkand.
According to Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, Tashkent is ready to develop and process minerals in Azerbaijan, as well as produce construction materials and use them for restoration work in the liberated territories in Karabakh.
Kudratov also invited Azerbaijani companies to participate in the development and extraction of non-ferrous metal deposits in Uzbekistan.
"In turn, we invite Azerbaijani companies to participate in the development and extraction of non-ferrous metals, including copper deposits. Cooperation in the energy and oil and gas sectors is developing at a good pace," noted Laziz Kudratov.