On June 20, Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov met with Minister of Economy of Azerbaijan Mikayil Jabbarov, the press office of the Ministry of Investments and Foreign Trade reported.
The interlocutors discussed the issues of bilateral cooperation in the transport and logistics, trade and economic sectors. The delegations of industry ministries and departments of the two countries took part in the meeting.
The most promising areas of industrial cooperation include the textile, food, chemical, automotive, building materials and silk industries.
The parties also noted the progress in the trade and economic sectors. Trade between Uzbekistan and Azerbaijan increased by more than 40% over the past year and doubled in the first six months of 2022, compared to the same period of 2021. Cooperation is developing dynamically in the petrochemical, electrical engineering technical, chemical and textile industries, as well as in the transport and logistics sectors. The freight transport volume between the two countries is expected to increase by 40% by the end of the year.
The participants of the meeting underscored the important role of the Intergovernmental Agreement on interregional cooperation in promoting bilateral relations.