Tashkent, Uzbekistan (UzDaily.com) – On 10 July, the 13th session of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan was held in Bukhara, chaired by Laziz Kudratov, Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, and Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan.

The meeting was attended by heads of relevant ministries and departments, and sectoral associations of both countries. The participants reviewed the current state and prospects for the development of bilateral multilateral cooperation in priority sectors.

In 2023, trade between Uzbekistan and Azerbaijan increased by 26.5%, reaching US$231.6 million. There are 236 enterprises with Azerbaijani capital operating in Uzbekistan, including 62 joint ventures and 174 enterprises with 100% foreign capital. In Azerbaijan, there are 70 Uzbek companies.

Measures were discussed to increase mutual trade volumes to US$1 billion. Key strategies include import substitution based on analysis of demand for goods, conducting regular trade and business missions, and organizing exhibitions of national products in major cities on a reciprocal basis.

Prospective industries identified include projects for the production of silk products, the creation of a textile cluster, the construction of an international school, and the organization of food production.

New promising areas of cooperation were also identified in the fields of mechanical engineering, electrical engineering, construction materials, energy, petrochemicals, agriculture, and tourism.

Special attention was given to the diversification of transport corridors and the creation of logistics infrastructure to increase bilateral and transit freight volumes.

Measures to develop interregional cooperation were also discussed. Twin city relations have been established between Gulistan and Fuzuli, Namangan and Mingachevir, Termez and Bilasuvar, and work in this direction continues.

As a result of the session, a final protocol was adopted, reflecting the agreements reached, identifying responsible leaders, and setting deadlines for the implementation of the outlined tasks.