BAKU, Azerbaijan, August 29. Azerbaijan and Uzbekistan are in the process of negotiations on cooperation development in the field of jewelry sales on the international market, the Chairman of the Association of Jewelers of Azerbaijan, Togrul Abbasguliyev told Trend.
According to him, cooperation with the Association of the jewelry industry of Uzbekistan has been going on for three years. As part of the cooperation, the possibilities of selling jewelry to various countries are being discussed.
"Our partnership demonstrates high productivity. Brands from Azerbaijan are successfully represented at exhibitions and festivals organized in Uzbekistan. A number of business forums were held. The delegation of the Association of the jewelry industry of Uzbekistan was on a business trip to Baku in August 2023, and the parties made proposals for cooperation. One of the important proposals is to place the products of our brands under the label "Made in Azerbaijan" in the shopping centers of Uzbekistan and brands from Uzbekistan under the label "Made in Uzbekistan" in the shopping centers of Azerbaijan," said Abbasguliyev.
According to Abbasguliyev, it was decided to focus on the following potential projects: the availability of Uzbek gold as a raw material for Azerbaijani producers, the creation of joint production enterprises, jewelry production and export to third countries. This will allow the countries to expand the distribution of brands and significantly increase the share of jewelry products in export deliveries.
He also noted that Uzbekistan is one of the leading gold producers on a global scale.
"It is planned to export jewelry made in Azerbaijan using Uzbek raw gold to the markets of third countries. Our proposals have already been submitted to the Uzbek side, and we expect a response in the near future," he said.
Abbasguliyev added that in January 2021, a cooperation agreement was signed between the Association of Jewelers of Azerbaijan and the Association of the jewelry industry of Uzbekistan.
In general, the volume of the jewelry market in Azerbaijan for the first half of 2023 amounted to 109 million manat ($64.1 million).
In addition, imports of gold and silver amounted to 71.4 million manat ($42 million) in 2022, and exports were 19.6 million manat ($11.5 million). In general, the volume of the jewelry market in Azerbaijan for 2022 amounted to 153 million manat ($90 million).