Azerbaijan, Baku, July 25 / Trend A. Akhundov /
The potential of trade relations between Azerbaijan and Uzbekistan is several times higher than current rates, Uzbek Ambassador to Azerbaijan Sherzod Faiziev told media today.
"Trade turnover has been constantly growing for the past five years," he said. "At present, this exceeds $60 million. This does not satisfy us. There is great potential for expanding trade relations. We will work to improve contacts between the business organisations of the two countries which will eventually increase trade turnover."
He said that the intergovernmental commission on trade and economic cooperation has determined a number of key areas of cooperation to be developed.
"For example, Uzbekistan is famous for its textile industry," he said. "The country has very large crops of cotton. It is one of the leading cotton producers, not just raw cotton, but the finished products."
Uzbek transport and communication opportunities which Azerbaijan can use, are of great interest.
"The cooperation in the energy sector is also interesting," he added. "Azerbaijan has rich experience in this area. It is actively involved in implementing various projects in the oil and gas industry."