Tashkent hosts landmark Uzbek-Azerbaijani business forum

The Uzbek-Azerbaijani Business Forum, a significant event aimed at fostering economic cooperation between the two nations, was recently held in Tashkent. The forum was jointly organized by the Agency for Promotion of Export and Investment of Azerbaijan (AZPROMO) and the Agency for Attracting Foreign Investment of Uzbekistan, with support from the Ministry of Investment, Industry and Trade of Uzbekistan and the Ministry of Economy of Azerbaijan.

According to Report, the event brought together nearly 300 entrepreneurs from various sectors, including construction, industry, agriculture, automotive, transport and logistics, healthcare, and tourism. High-level officials from both countries, including Mikayil Jabbarov, Minister of Economy of Azerbaijan, and Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, addressed the forum.

The official visit of Azerbaijani President Ilham Aliyev to Uzbekistan is expected to further strengthen the bilateral partnership. A crucial role of the forum in identifying new projects and areas of cooperation, as well as facilitating the successful implementation of initiatives was noted.

According to the information, the trade turnover between Uzbekistan and Azerbaijan has been growing dynamically. It was noted that under the joint Roadmap for Expanding Trade, Economic, and Investment Cooperation for 2024-2025, projects in agriculture, tourism, construction, pharmaceuticals, and the automotive industry are set to be realized. The Azerbaijan-Uzbekistan Investment Company, with a charter capital of $500 million, was highlighted as a key player in financing joint projects, with 15 projects currently under analysis.

The successful joint activities of the two countries within regional transport and energy initiatives were also noted. The importance of exporting "green" energy from Central Asian countries to Europe through Azerbaijan was emphasized.

The forum provided insights into the favorable investment and business environment created in Azerbaijan for investors, as well as the opportunities available in the Karabakh and East Zangazur economic regions.

Yusif Abdullayev, Executive Director of AZPROMO; Nodir Pulatov, General Director of Businesstex; Kamran Abasov, General Director of Iticket Azerbaijan; Temur Mamadaminov, Commercial Director of Bazalt Uzbekistan Group of Companies shared their experiences and perspectives on joint projects and bilateral investment prospects.
Nazim Hajiyev, General Director of the Azerbaijan-Uzbekistan Investment Company, spoke about the opportunities of mutual investment and Kanan Jalilov, Honorary Consul of Uzbekistan in Azerbaijan, spoke about the expansion of trade and economic partnership.

The event also included the exchange of signed documents on cooperation in energy, education, logistics, construction, and the establishment of twin city relations between Jizzakh (Uzbekistan) and Guba (Azerbaijan), as well as Shakhrisabz (Uzbekistan) and Beylagan (Azerbaijan). The event continued with B2B meetings.