Ahead of the state visit of the President Shavkat Mirziyoyev to Azerbaijan, on August 21, a business forum took place in Baku with the participation of delegates of relevant ministries and agencies, and over 250 major companies of the two countries.
The event was co-chaired by Minister of Investments, Industry and Trade of Uzbekistan Laziz Kudratov and Minister of Economy of Azerbaijan Mikail Jabbarov.
Reportedly, at the two-way trade increased by 6 times in 2022, and by 40 percent since the beginning of this year. The leaders of the two countries noted that, among other measures, by increasing the mutual supply of pharmaceutical and petrochemical products, plastic products, polymers and mining industry products, the goal was to increase this figure to US$ 1 billion dollars in the coming years.
Today, more than 200 enterprises with the Azerbaijani capital are operating in Uzbekistan.
Currently, the process of implementing a number of joint projects on the expansion of automobile production, the organization of cotton-textile and silk industry clusters in Azerbaijan, and the production of construction materials and jewelry in Uzbekistan has been launched.
Large trade and investment agreements were signed at the forum, in the fields of oil and gas, chemical and mining industries, pharmaceutical products and household appliances production.
President of Uzbekistan Shavkat Mirziyoyev will pay a state visit to Azerbaijan on August 22-23.