Tashkent, Uzbekistan (UzDaily.com) -- On 24 February, the Uzbek-Azerbaijani interregional forum was held in Tashkent. 

At the event, the delegations were headed by the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov, the Acting Minister of Foreign Affairs Bakhtiyor Saidov from the Uzbek side, and the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov from the Azerbaijani side. 

The Forum was also attended by heads of ministries, departments, industry associations, commercial banks, chambers of commerce and industry, heads of local administrations and representatives of business communities in the regions of the two countries.

During their speeches, the heads of delegations noted the significant potential for deepening trade, economic and investment cooperation, expanding industrial cooperation for the production of demanded products and developing promising markets and called on representatives of the Uzbek and Azerbaijani business circles for active and successful cooperation, at the same time emphasizing the readiness of the relevant ministries of the two countries to provide any necessary assistance in the implementation of joint projects.

It was announced that in order to expand trade relations and bring the volume of mutual trade up to US$1 billion, in the near future it is planned to increase mutual deliveries of demanded products to the markets of both countries, conduct regular trade and business missions, and form platforms for establishing direct contacts between entrepreneurs.

The speakers emphasized the importance of developing new and implementing planned joint projects and initiatives in the spectrum of interregional cooperation. During the meeting, a number of important documents were signed on the establishment of sister city relations between the cities of Bukhara and Lankaran, Khiva and Shusha, Kokand and Sheki, Samarkand and Ganja, the "Road Map" for cooperation between Tashkent and Baku.

In order to successfully and timely finance projects within the framework of the Forum, an agreement was signed to establish a joint investment fund with an authorized capital of US$500 million.

The heads of the regions of the two countries also spoke during the forum. The industrial and investment potential of territories and industries is presented. Intentions were expressed to intensify work to further deepen industrial cooperation in such areas as the automotive industry, the cotton and textile industry, sericulture, the production of building materials and jewelry, petrochemistry, energy, agriculture and the food industry based on the complementarity of the economies of both states.

As a result of the forum, a total of 11 trade and economic documents were signed in the priority sectors of the regional development of both countries.