Baku hosted the 14th meeting of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan Friday. The Uzbek delegation was headed by Minister of Investment, Industry and Trade Laziz Kudratov, and the Azerbaijani delegation was headed by Minister of Economy Mikail Jabbarov, the press service of the Uzbek Ministry of Investment said.
According to the Uzbek authorities, year-to-date, trade turnover between the two countries has increased by 40%. According to Azerbaijani statistics, this figure surpassed $200 million.
The parties set a goal to increase trade turnover to $1 billion by 2030. This is planned to be achieved both by increasing trade and by increasing mutual investments and industrial cooperation projects.
The meeting discussed trade and economic cooperation, industrial cooperation, joint projects in the fields of transport, agriculture and food industry, which form the basis of strategic partnership, the press service of the Ministry of Industry and Trade underscored. The parties discussed separately the development of interregional transport corridors.
The successful progress of joint projects on the construction of residential and tourist facilities, a logistics center, cotton and dairy clusters was underscored.
As part of the cooperation between Uzavtosanoat and Azermash, Chevrolet models and spare parts for them are manufactured in the Hajigabul Industrial Park. In 2023, the foundation of the second car manufacturing plant was laid. To date, about 8,900 cars have been manufactured, the Ministry of Economy of Azerbaijan said.
The Azerbaijan-Uzbekistan Investment Company is involved in the financing of 15 projects worth over $360 million.
Following the meeting, the parties approved joint action plan to increase the volume of bilateral trade, an industrial cooperation plan for 2025-2026, and a schedule of mutual trade missions was signed, providing for the opening of trading houses and showrooms in Tashkent and Baku. In addition, a Business Council will be set up, responsible for direct cooperation between businesses of the two countries without the participation of intermediaries.
Baku also hosted the third Forum of Provinces of Uzbekistan and Azerbaijan, which was attended by more than 50 business delegates of the two countries. In addition, Laziz Kudratov met with the CEOs of large Azerbaijani companies.
Earlier, on June 10-12, the second Trade Forum of Turkic States was held in Baku. Uzbekistan presented a "Made in Uzbekistan" stand at it, and was represented by more than 50 companies participated.
In the capital of Azerbaijan, Laziz Kudratov also met with the President Ilham Aliyev.
According to Trend, a visit by Uzbek President Shavkat Mirziyoyev to Azerbaijan is planned for early July.
The President of Azerbaijan visited Tashkent on a state visit in August last year.
