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15.10.2019

Uzbekistan, Azerbaijan increase trade turnover by 63 percent

Uzbekistan, Azerbaijan increase trade turnover by 63 percent
Minister of Economy of the Republic of Azerbaijan Shahin Mustafayev met with Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov, in Baku.

Shahin Mustafayev noted that the oil sector is a priority in economy, invited Uzbekistan businesspeople to joint activities. Speaking about Azerbaijan's advantageous geostrategic positions and great transit potential at the intersection of international transport corridors, the Minister of Economy noted wide opportunities for developing cooperation with Uzbekistan in transport-transit sphere.

Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov noted that Uzbekistan focuses on development of relations with Azerbaijan and emphasized the role of business meetings, discussions in expanding cooperation. He expressed Uzbekistan business people’s interest in expanding partnership with Azerbaijan business representatives.

The Minister emphasized that the creation of new transport corridors connecting Eastern Europe through Central Asia, Turkey and Azerbaijan can become an important contribution to expansion of cooperation in transport sector.

Issues of establishment of a Joint Working Group on expanding economic relations between the two countries, presentation of investment opportunities of Uzbekistan in Azerbaijan, implementation of mutual exchange of experience in various spheres, including in tourism, mechanical engineering were also discussed at the meeting.

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