BAKU, Azerbaijan, May 2. Azerbaijan and Uzbekistan plan to hold an interregional forum, said Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), as he addressed the panel discussion themed "Joint way to success: Uzbekistan & Azerbaijan" held as part of the Tashkent Investment Forum, Trend reports.
"We visit Uzbekistan at least 5 times a year, and these visits strengthen our relations. I would like to announce that we will be holding the Interregional Forum between Azerbaijan and Uzbekistan on May 21 in the city of Guba. I invite everybody, and we would be glad to see you there. This also emphasizes the development of our relations and the regularity of our meetings," he said.
He pointed out that, as the Azerbaijani delegation attends the current forum in Tashkent, a larger delegation was assembled this time.
"We have signed a roadmap to execute several projects. Over the past 7-8 months, this cooperation has advanced significantly. There is a huge opportunity in the textile sector. Additionally, we hope to implement a project for establishing a textile enterprise together," the executive director added.
He also mentioned several more projects between Azerbaijan and Uzbekistan in the industry, automobile, construction, and other sectors to be implemented over the next few months.
Meanwhile, in February 2023, Azerbaijan and Uzbekistan entered into an intergovernmental agreement to establish a Joint Investment Fund worth $500 million.
Trade turnover between Azerbaijan and Uzbekistan from January to March 2024 totaled $142 million. The two countries' economies have enough potential for mutual trade indicators to reach $1 billion in the coming years.