Bukhara hosts 13th meeting of Azerbaijan-Uzbekistan Intergovernmental Commission

The 13th meeting of the Joint Intergovernmental Commission on cooperation between Azerbaijan and Uzbekistan was held within the framework of the visit of the delegation led by Economy Minister Mikayil Jabbarov to Uzbekistan, Report informs, citing the ministry.

The co-chairs of the Intergovernmental Commission Mikayil Jabbarov and the Minister of Investments, Industry and Trade of Uzbekistan Laziz Kudratov emphasized that the Commission is an effective platform for the development of business relations and the implementation of joint projects.

As noted, trade cooperation is one of the main directions in Azerbaijan's economic relations with Uzbekistan. Last year, the value of trade turnover with Uzbekistan was close to $180 million. In the first five months of 2024, this indicator was approximately $70 million. More than 90 Uzbek companies in the fields of industry, trade, transport, construction, agriculture and services are registered in Azerbaijan.

Co-investment in the industry has created examples of successful cooperation. Automobiles are produced within the framework of a joint project in Azerbaijan's Hajigabul Industrial Park. As of July 1 this year, more than 5,300 Chevrolet cars were produced within the framework of cooperation. In addition, joint production of pickup trucks, trucks and buses is carried out.

Successful cooperation to create cotton and sericulture clusters in Azerbaijan continues. Interregional forums contribute to further expansion of cultural relations in this area as well. Azerbaijan and Uzbekistan have great potential in the field of transport and transit as well.

In addition, successful partnerships are also implemented in health care, tourism, culture, education and other fields.

At the meeting of the commission, information was provided about various stimulation mechanisms applied to increase economic activity and create a favorable business environment in Azerbaijan, the business potential of the liberated territories, and implemented infrastructure projects. As reported, Uzbek entrepreneurs can establish competitive activities by taking advantage of the concessions in the industrial zones and Alat Azad Economic Zone in Azerbaijan.

The event concluded with the signing of a protocol on the results of the meeting. The document reflects the strengthening of partnerships in the economy, trade, energy, transport-transit, agriculture, innovations and other areas.