Azerbaijan, Uzbekistan Form Joint Exploration Venture
Azerbaijan, Uzbekistan Form Joint Exploration Venture / Photo: AzerGold
Tashkent, Uzbekistan (UzDaily.uz) — Azerbaijan and Uzbekistan have signed an agreement to establish a trilateral joint venture to carry out geological exploration.
The document was signed on 17 July following the working visit to Uzbekistan by an Azerbaijani delegation led by Economy Minister Mikayil Jabbarov.
During the visit, Jabbarov and Uzbekistan's Minister of Investments, Industry and Trade Laziz Kudratov took part in the 15th meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission on Cooperation.
The meeting focused on deepening trade and investment cooperation in line with the priorities set by the leaders of the two countries, creating new production and logistics chains linking Central Asia and the South Caucasus, developing transport and logistics links along the Middle Corridor, and expanding investment cooperation.
At the conclusion of the meeting, the parties signed a protocol aimed at strengthening cooperation in the fields of economy and trade, energy, transport, agriculture, food security, healthcare, environmental protection and other priority areas.
The sides also signed an agreement setting out the terms for establishing a trilateral joint venture involving AzerGold, Uzbekgeologorazvedka JSC and the Azerbaijan-Uzbekistan Investment Company. The new entity will conduct geological exploration activities.
The agreement was signed by AzerGold Chairman Zakir Ibrahimov, Azerbaijan-Uzbekistan Investment Company Executive Director Nazim Gadjiev, and Shamsiddin Alimov, Chairman of the Management Board of Uzbekgeologorazvedka JSC.
