Uzbekistan, Azerbaijan to increase volume of mutual trade to $1 billion

In the city of Shusha, Azerbaijan, under the chairmanship of the Minister of Investments, Industry and Trade of Uzbekistan Laziz Kudratov and the Minister of Economy of Azerbaijan Mikail Jabbarov, the 12th meeting of the Intergovernmental Joint Commission on Cooperation between Uzbekistan and Azerbaijan was held.

Photo: MIIT

According to the MIIT, the leaders of the main ministries, departments, industry associations, commercial banks and educational institutions, as well as diplomatic missions of the two countries took part in the dialogue.

It is noted that in 2022, the volume of trade between the countries will increase by 1.5 times, and since the beginning of this year, this indicator has increased by 16%. The supply of textile products to Azerbaijan increased by 2.6 times, the supply of mechanical equipment by 19.7%, and the supply of glass and glass products by 76%. It was emphasized that the economies of the two countries have sufficient potential to increase the volume of mutual trade to $1 billion in recent years.

The issues of expanding cooperation in the energy and transport sectors, developing interregional, cultural and humanitarian relations were also discussed at the meeting.

Following the event, the minutes of the 12th meeting of the intergovernmental joint commission on cooperation between Uzbekistan and Azerbaijan and a number of other documents strengthening the agreements reached were signed.

#Azerbaijan #Laziz Kudratov #MIIT