SHUSHA, Azerbaijan, July 18. More than 70 enterprises with Uzbek capital are currently operating in Azerbaijan, Trend reports.
It was reported at the 12th meeting of the Azerbaijan-Uzbekistan joint intergovernmental commission held in Azerbaijan’s Shusha.
In the last five years, the number of joint ventures established in Uzbekistan with Azerbaijani capital has quadrupled. Just in two years, around 40 joint ventures have resumed operations.
Furthermore, only in 2022, the trade turnover between two countries increased by 1.5 times, and since the beginning of this year, the indicator has grown by 16 percent.
In particular, the exports of textile products to Azerbaijan have increased by 2.6 times, mechanical equipment by 19.7 percent, and glass and its products by 76 percent. In this regard, it was pointed out that the economies of both countries have sufficient potential to increase mutual trade indicators to $1 billion in the coming years.
Meanwhile, the trade turnover between Azerbaijan and Uzbekistan from January through May 2023 amounted to $76.7 million, of which 52.2 million accounted for Uzbek exports and 24.5 million for imports.