Tashkent, Uzbekistan (UzDaily.com) -- On 24 February this year, the third meeting of the Uzbek-Azerbaijani Business Council was held in Tashkent.

The event was attended by First Deputy Chairman of the Chamber of Commerce and Industry and Co-Chairman of the Business Council of Uzbekistan Tura Bobolov, Vice-President of the National Confederation of Organizations of Entrepreneurs (Employers) of the Republic of Azerbaijan and Co-Chairman of the Business Council of Azerbaijan Vugar Zeynalov, as well as representatives of various ministries, departments and business circles. This was reported by the press service of the Chamber of Commerce and Industry of Uzbekistan.

Among them from the Uzbek side are representatives of the Ministry of Tourism and Cultural Development, the Agency for Attracting Foreign Investments under the Ministry of Investments, Industry and Trade, as well as a representative of the Department for the Development of Cooperation with International Banking and Financial Institutions of the Association of Banks of Uzbekistan.

From the Azerbaijani side, representatives of the Public Union for the Support of the Development of Health and Thermal Tourism, the Export and Investment Promotion Agency, as well as a representative of the International Bank of Azerbaijan attended the event.

The main goal of the event was the further development of investment and trade and economic cooperation between Uzbekistan and Azerbaijan, as well as strengthening relations between the business circles of the two countries.

During his speech, Tura Bobolov noted that cooperation and trade and economic relations between the two countries have been actively developing in recent years, the number of mutual trade and joint business projects is growing rapidly.

It should be noted that special attention was paid to the consistent expansion of economic partnership in priority areas for Uzbekistan and Azerbaijan, as well as to the intensification of mutual cooperation between the business circles of the two countries.

As of July 2022, there are 243 enterprises with the participation of Azerbaijani capital in Uzbekistan, of which 86 are JVs and 157 are enterprises with 100% participation of foreign capital. Most of them work in the fields of mechanical engineering and metalworking, energy, light industry, food industry, production and repair of jewelry, real estate, service, trade, finance and insurance.

During the meeting, the participants got acquainted with the presentation materials on the investment potential of Uzbekistan and all the conditions for doing business in our country, and also discussed in detail investment cooperation and infrastructure projects in various fields.

At the end of the event, representatives of the Uzbek-Azerbaijani private sector expressed their desire to contribute to the further development of joint projects between the two countries.