Baku 28° C
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Uzbekistan and Azerbaijan are working on creating an e-commerce platform that will allow contracts to be concluded at B2B and B2C levels between the two countries.
As Report informs, this was stated by the Deputy Minister of Investment, Industry and Trade of Uzbekistan Khurram Teshabaev at the panel session Azerbaijan - Uzbekistan: Vector of Economic Partnership within the framework of the IV Tashkent International Investment Forum.
According to Teshabaev, there is currently a steady development and stable growth of trade turnover between Uzbekistan and Azerbaijan - over the past five years it has increased by 2 times.
"Just in the first four months of this year, according to Uzbek statistics, a growth of 40% was recorded. Despite the positive dynamics, we need to work on further increasing volumes so that they correspond to the pace of economic growth, since the potential of our economies allows us to bring trade turnover to $1 billion," said Teshabaev.
The Deputy Minister emphasized the readiness to work on increasing exports from Azerbaijan to Uzbekistan of vehicles, textile products, mechanical and technical equipment.
"For this, we are working in very close cooperation. One of such directions that will allow us to develop all this is the creation of an electronic commerce platform for concluding contracts," emphasized Teshabaev.
He also expressed hope for an increase in the number of business missions.
"The cost of joint projects exceeds more than $2.2 billion. The construction of residential complexes and hotels is being successfully implemented. Uzbek business is actively participating in the implementation of investment projects in Azerbaijan, including the creation of a cotton cluster, expansion of automobile assembly production in Hajigabul. The potential for developing industrial cooperation between the countries is extremely high. Currently, Uzbekistan is forming a new package of projects, and soon we will present it for consideration by the investment company for preliminary screening, after which we will try to attract partners for their implementation," added the Deputy Minister.
