On August 21, the Uzbekistan-Azerbaijan Business Forum took place in Baku, which attracted the heads of key ministries and departments of the two states. The issues under discussion at the forum included the growth in trade between the two countries, which increased sixfold in 2022, the press office of the Government of Uzbekistan reported to CentralAsia.news.
The Minister of Investments, Industry and Trade of Uzbekistan Laziz Kudratov and Minister of Economy of Azerbaijan Mikail Jabbarov co-chaired the forum. They noted that trade has increased by 40% since the beginning of the year.
An important task set by the leaders of the two states is to raise bilateral trade to $1 billion. They seek to fulfil this task by promoting cooperation in the pharmaceutical and petrochemical industries and developing the mining industry.
The participants of the forum put forward specific proposals to set up joint ventures. These include the enterprises that produce metal structures, medicines, household appliances and building materials. The Uzbekistan-Azerbaijan Investment Company can play an important role in fulfilling this task.
