Ambassador: Azerbaijan-Uzbekistan trade can grow by several times (Exclusive)

Baku, Azerbaijan, June 13

By Fikret Dolukhanov – Trend:

Indicators of trade and economic cooperation between Azerbaijan and Uzbekistan can be improved by several times by developing direct partnership relations between business circles of the two countries and expanding the investment cooperation, Azerbaijan’s Ambassador to Uzbekistan Huseyn Guliyev said in an exclusive interview with Trend June 13.

“Ties should be developed in the banking and financial sectors,” he added. “The list of export goods and services of the two countries should be reconsidered as this is of great importance for the expansion of the dialogue between businessmen.”

"The current level of trade and economic relations is not satisfactory,” Guliyev said. “At the end of 2017 the trade turnover between the two countries amounted to $31.2 million, of which $26.2 million accounted for exports of Uzbekistan’s goods and only $4.9 million accounted for imports. To expand cooperation in this sphere, both sides should intensify efforts to fully use the existing potential."

He stressed that free economic zones, which are special economic areas with tax, customs, credit benefits for doing any business, including small business, were created upon Uzbek President Shavkat Mirziyoyev’s order to attract investments to Uzbekistan.

“The exemption of economic entities from the main tax burden gives ample opportunities for their rapid expansion, especially when the matter rests in using foreign investments in the authorized capital,” Guliyev added.

"As for Azerbaijan’s investments in Uzbekistan’s economy, I would like to stress that presently 82 Azerbaijani enterprises operate in the republic, of which 71 are joint enterprises and 11 enterprises have full Azerbaijani capital," the ambassador said.

“Trade, engineering and metalworking, finance and insurance, real estate operations, energy, services, jewelry production and repair, food and light industries are the main spheres of activity of those enterprises,” Guliyev said.

"Azerbaijan is interested in using Uzbekistan’s potential, which is the heart of Central Asia and has huge economic and strategic opportunities," he said. “The development of trade, economic and investment ties is a priority direction of bilateral cooperation between Uzbekistan and Azerbaijan."

Guliyev stressed that for this purpose, the Chamber of Commerce and Industry of Uzbekistan together with the National Confederation of Entrepreneurs’ Organizations held the first Uzbek-Azerbaijani business forum and cooperation exchange with participation of businessmen of two countries with the assistance of the Azerbaijani embassy in Uzbekistan on Feb. 19-20.

The Azerbaijani delegation included representatives of companies engaged in such sectors as construction, food, software, tourism, finance, textiles and others. The visit was aimed at supplying Azerbaijani products to the Uzbek market, establishing business contacts with Uzbek businessmen and acquaintance with the investment climate in Uzbekistan. An agreement on cooperation between the Chamber of Commerce and Industry of Uzbekistan and Azerbaijan's National Confederation of Entrepreneurs’ Organizations was signed at the end of the forum.


Follow the author on Twitter: @FDolukhanov

Subscribe to Trend in Google News! Subscribe
Launch of Baku-Shusha bus route of particular importance for Shusha city - Special Representative of Azerbaijani President
Launch of Baku-Shusha bus route of particular importance for Shusha city - Special Representative of Azerbaijani President
Judicial investigation of two Armenian citizens accused of terrorism completed in Azerbaijan (UPDATE)
Judicial investigation of two Armenian citizens accused of terrorism completed in Azerbaijan (UPDATE)
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan shares data on number of vaccinated citizens
Loading Bars
U.S. Navy pilot ejects, 7 hurt in F-35 South China Sea 'landing mishap'
Assange wins right to appeal extradition to U.S.
Burkina Faso army deposes president in West Africa's latest coup
Istanbul Airport suspends all flights amid heavy snowfall
India attends informal WTO meet to take stock of negotiations
Explosion kills 6 in southern Somalia
Country calmly to pass current heating period - Ukrainian president
Republic Day parade in India to showcase old, new era of Army
Georgia names main goods imported from Uzbekistan
Kyrgyzstan enters top 10 trade partners of Uzbekistan
Current situation in Ukraine is under control - Zelensky
Iran, Uzbekistan emphasize boosting customs cooperation
Gov’t to set up commission for project of Georgian cultural centre in Jordan
PM of Ukraine says no threats to functioning of national economy
Armenia sincerely wishes to normalize relations with Turkey - Nikol Pashinyan
Armenia ready to sign peace agreement with Azerbaijan - Pashinyan
Sudan security forces fire tear gas on protesters
Launch of Baku-Shusha bus route of particular importance for Shusha city - Special Representative of Azerbaijani President
Azerbaijan talks applications received by SMB Development Agency on creating business in liberated lands
Uzbekistan working to establish power supply in Tashkent region
Azerbaijan discloses annual turnover growth of E-PUL payment system for 2021
Price indexes of financial, construction sectors at Uzbek stock exchange fall
Toyota Caucasus becomes member of Business Association of Georgia
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 757 more COVID-19 cases, 302 recoveries
Turkmen livestock complex in Akhal region names volume of production
Uzbek company reveals volume of exports to French Bonduelle
Bank of Georgia supports new tower construction in Tbilisi
Iran’s Bahar Azadi gold coin price continues to rise
Azerbaijan sees growth in local banks' total assets in 2021
Azerbaijan unveils number of businesses affected during second Karabakh war (PHOTO)
Azerbaijan's monetary base increases in 2021
Iran shares value of shrimp exports
Azerbaijan’s Small and Medium Business Development Agency discloses number of start-up certificates issued in 2021
Azerbaijani President Ilham Aliyev sends congratulatory letter to chairperson of Organization of War, Labor and Armed Forces Veterans
Central Bank of Iran shares data on country’s foreign debts
Iran sees increase in liquidity
Azerbaijani Small & Medium Business Dev't Agency talks about its activities in 2021
Serbian deputy PM to visit Azerbaijan
EU regulator set to rule on Pfizer COVID pill by end-Jan, ahead of Merck
Kazakhstan records decrease in annual inflation in December 2021
Low-carbon transition pressures to accelerate in 2022
Iran unveils volume of electricity generated by Esfahan TPP
Capital of Iran’s Bank Mellat soars
Uzbekistan sees increase in newly created enterprises
IOM talks about areas of cooperation with Turkmenistan in 2022
Luxembourg’s SES S.A. continues steps within Kazakhstan’s state program foe economy dev't
Croatia to send three delegations to Azerbaijan
Luxembourg’s SES S.A. to launch satellites to boost internet speed in Kazakhstan
Labour migration from Turkey to Germany slightly increased in 2021
Iran shares data on production capacity of Petrochemical Special Economic Zone
Kazakhstan maintains positive trend in local consumer demand
Kazakhstan’s Samruk-Kazyna Fund preliminarily approves new procurement procedure
Georgia sees growth in residential property price index
Brazil's Embraer wins order for 20 aircraft from U.S. lessor Azorra
Judicial investigation of two Armenian citizens accused of terrorism completed in Azerbaijan
Russia records another 65,109 coronavirus cases
Azerbaijan's BTB Bank announces net profit for 2021
Georgia's hotels to see increase in demand – forecast
People wanted for grave crimes extradited to Azerbaijan - Prosecutor General
India’s imports from China soar to almost $100 bn, led by smartphones, machinery
Uzbekistan reveals structure of foreign trade turnover
Iran reveals COVID-19 data for January 24
Boeing invests $450 mln in flying taxi developer Wisk
Azerbaijan Gymnastics Federation resuming local competitions
German group of companies to construct plant in Uzbekistan
Turkmenistan's Akhal Electric Power Station boosts output rate
Azerbaijani police calls on citizens coming to Shusha to observe security rules
Georgia to provide financial support to senior citizens - PM
India's Infosys confident about more offshoring opportunities
Azerbaijani Defence Minister meets with Finland's MFA delegation (PHOTO)
Turkmen multifilament yarn manufacturer exports to foreign markets
National Bank of Kazakhstan increases base rate
JPMorgan merges EU operations into single German business
Turkmen enterprise reveals output of glass sheets
Turkmenistan's State Bank for Foreign Economic Affairs opens tender for audit
TAP’s technical forward capacity by Jan.30
Azerbaijan - Georgia's top fuel, lubricant supplier in 2021
NEQSOL Holding delivered Strategic HR Business Partner Program for HR professionals
Physical gas flows, nominations at TAP’s interconnections
Progress on iron foundry construction project in Kazakhstan unveiled
Weekly review of Azerbaijani oil market
Georgia’s hazelnuts export value, volume grow
Iran seeks to increase economic ties with Iraq
Iran to put taxes on petrochemical exports revenues
SOCAR Turkey talks on demand for STAR Refinery products
Kazakhstan unveils trade data with its top partners in Americas
First passenger bus from Baku arrives in Azerbaijan’s liberated Shusha (PHOTO/VIDEO)
Electricity generation booming at Iran’s biggest thermal power plant
Azerbaijan to hold auction to place Unibank’s bonds on Baku Stock Exchange
Azerbaijani AFB Bank discloses net profit for 2021
Turkmengaz to purchase material and technical resources via tender
Uzbekistan to support new projects of food producers
Anil Agarwal to set up $10 bn fund to hunt for govt assets
Outbreak alert: members of Georgia's government test positive for COVID-19
Azerbaijan approves agreement on customs co-op with Saudi Arabia
Iran records surge in number of flights via Shahid Beheshti Airport
Visa regime between Azerbaijan and Qatar cancelled
Iran's handmade carpet production declines
Footage of Iranian Minister of Roads and Urban Development arriving in Fuzuli International Airport published (PHOTO)
All news