BAKU, Azerbaijan, June 20. The trade turnover between Uzbekistan's Fergana region and Azerbaijan reached $3.3 million over the past five months, Deputy Governor of the Fergana region Nuriddin Mamajonov said at the 3rd Azerbaijan-Uzbekistan Interregional Forum in Baku, Trend reports.
“Although $3.3 million may seem modest compared to our total foreign trade volume, it demonstrates a solid foundation for further growth. We see significant potential for expanding bilateral cooperation,” Mamajonov noted.
He emphasized that thanks to the policies of the governments of Uzbekistan and Azerbaijan, active partnerships have been established over the past three to four years with Azerbaijani entrepreneurs and investors in the areas of trade and investment.
“Our key area of cooperation with Azerbaijani partners is the processing of agricultural products, with the aim of exporting them to European markets,” he added.
Mamajonov also highlighted that 11 joint ventures with Azerbaijani partners are currently operating in the Fergana region. Of these, eight are financed with joint Azerbaijani-Uzbek capital, while three are funded solely by Azerbaijani investment.
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