Uzbekistan and Azerbaijan discuss development of bilateral relations

Tashkent, Uzbekistan (UzDaily.com) -- On 5 February, within the framework of the visit of the delegation of the Republic of Azerbaijan, a round table was held at the Hyatt Regency Hotel with the participation of ministries, departments, business circles and sectoral companies of the two states. The event was organized by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.

On 4 February, the Azerbaijani delegation headed by the Minister of Economy of the Republic of Azerbaijan Shahin Mustafayev arrived in Tashkent to discuss with official circles of Uzbekistan issues of enhancing and expanding cooperation in the transport and communications, investment and trade and economic spheres.

With a welcoming speech, Elyor Ganiyev, Deputy Prime Minister of the Republic of Uzbekistan, opened the round table discussion.

In his speech, the Deputy Prime Minister thanked the participants of the delegation for their readiness to establish a productive dialogue between the two countries and this visit is considered as an important stage in the preparation of a number of events, including at the highest level. It was noted that in the near future an organization of a meeting of the joint Uzbek-Azerbaijan intergovernmental commission on economic cooperation is expected.

“The socio-economic transformations taking place in Uzbekistan today designate our republic for international partners as a country open, transparent, accessible,” Elyor Ganiyev said. “Therefore, we hope that cooperation with Azerbaijan in these new conditions when we undertook very important steps to liberalize the economy, improve the investment climate, create new favorable conditions for Azerbaijani business.”

During the meeting, the parties noted that despite the increase in commodity turnover between Uzbekistan and Uzbekistan in 2018 by 50 percent, in the future the sides can talk about a potential level of half a billion dollars.

Potential areas of investment cooperation were also identified, where the Uzbek side expressed its willingness to consider the possibility of creating a joint production of electrical products, household appliances, and the automotive industry in Azerbaijan, as well as to develop cooperation in the petrochemical industry as part of joint projects.

The head of the Azerbaijani delegation, Shahin Mustafayev, in turn, noted that a reliable legal framework, formed over the years of cooperation between the countries, allows developing strong and long-term ties. More than 100 intergovernmental agreements, memorandums and other documents were signed, which open up broad opportunities for economic cooperation between Azerbaijan and Uzbekistan.

“We are interested in cooperation in production of electrical, textile goods. The experience of Uzbekistan in the areas of cotton growing, sericulture, production and distribution of carpets is also interesting, said Shahin Mustafayev. In addition, there is great potential in development of a transport corridor. The construction of a modern seaport in Azerbaijan, reconstruction of railways and the commissioning of a new international branch of Baku-Tbilisi-Kars, connecting the railway networks of Azerbaijan, Georgia and Turkey, create all the prerequisites for expanding cooperation with neighboring countries. We hope that together with our neighbors - Uzbekistan, Turkmenistan and Tajikistan we can jointly carry a large amount of cargo along this corridor.”

It was noted that the leadership of Azerbaijan places a special attention on formation of transport corridors, the development of the country’s transit potential, which should ensure high profitability and help reduce dependence on energy resources. During the official visit of President Ilham Aliyev to Turkmenistan in 2018, an agreement was reached on diversifying traffic flows and attracting new countries and regions, including Uzbekistan, to the geography. The signed bilateral documents will increase the volume of transit cargo transportation through transport corridors passing through the territory of Azerbaijan, as well as create favorable conditions for all Central Asian states, including Uzbekistan, to enter the markets of the West.

Also at the roundtable meeting, the transit and logistics potential of Azerbaijan was presented as a connecting state in the Trans-Caspian international transport route, and the possibilities for the integration of the two countries within the framework of the “One belt - one route” initiative route were discussed.

Following the event, the Chamber of Commerce and Industry of Uzbekistan and the National Confederation of Entrepreneurs (Employers) of Azerbaijan signed an agreement on establishment of the Uzbek-Azerbaijani Business Council, as well as a Memorandum of Cooperation between Kokkadarya regional administration and the Azerbaijani construction company Matanat-A.

As part of the visit, the delegation also organized study visits to manufacturing enterprises for the production of electrical appliances - Artel, the Bakan Tex textile factory, a tour of the silk industry exhibition organized by the Uzbekistanpaksanoat Association and a visit to the Uzagrotekhsanoatholding.