BAKU, Azerbaijan, June 11. Next week, Azerbaijan and Uzbekistan will hold a meeting of their intergovernmental commission — the key institutional mechanism that coordinates bilateral cooperation, announced Elnur Aliyev, First Deputy Minister of Economy of the Republic of Azerbaijan, at the panel session "Azerbaijan – Uzbekistan: Vector of Economic Partnership", held within the IV Tashkent International Investment Forum, Trend reports.
Aliyev underscored the importance of high-level visits between the two countries, noting that they have become a tradition and reflect the growing depth of bilateral relations.
Speaking about trade dynamics, Aliyev pointed out impressive growth. "The trade turnover was already mentioned — almost a quarter billion USD. But what is more important is that, according to our statistics for the last four months, this number is three times higher compared to the same period last year," he stated.
Aliyev emphasized the role of institutional frameworks in supporting these achievements. "The intergovernmental commission is a very important mechanism because it facilitates the cooperation tools among our institutions," he said. "One of these instruments is the joint investment fund, which has a capital of almost $500 million. Within the fund’s supervisory council, representatives from Azerbaijan and Uzbekistan have already identified 12 concrete projects".
In a further boost to bilateral ties, Azerbaijan is preparing to open a trade representative office in Uzbekistan. "This will be Azerbaijan’s sixth trade office worldwide, and we believe it will provide a new impulse for the development of our economic relations," Aliyev said.