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Uzbek, Azerbaijani entrepreneurs may set up joint ventures in Alat free economic zone

Business Materials 4 September 2020 19:51 (UTC +04:00)
Uzbek, Azerbaijani entrepreneurs may set up joint ventures in Alat free economic zone

BAKU, Azerbaijan, Sept. 4

By Fidan Babayeva – Trend:

The Uzbek and Azerbaijani entrepreneurs may create joint ventures in the field of textile, food, and pharmaceutical production in the Alat free economic zone, Ambassador of Uzbekistan to Azerbaijan, Bahrom Ashrafkhanov said.

Ashrafkhanov made the remarks at the meeting between the members of the representative office of Uzbekistan and members of the Azerbaijani National Confederation of Entrepreneurs (Employers’) Organizations, Trend reports referring to the Confederation.

"Entrepreneurs and their representative structures operating in Uzbekistan show great interest in cooperation with the Confederation and I am sure that this cooperation will be useful for both countries," the ambassador said.

Ashrafkhanov stressed that Uzbek and Azerbaijani entrepreneurs may create joint ventures in the field of textile, food, and pharmaceutical production in the Alat economic zone.

"Presently, an automobile plant is being built in Hajigabul town with the participation of an Uzbek company, in which it is planned to produce cars jointly with General Motors," the ambassador said.

Stressing that Uzbekistan is greatly interested in the varieties of nuts and pomegranates grown in Azerbaijan, the ambassador said that in this regard, he periodically visits the Azerbaijani districts.

While expressing a desire for Baku to perform the functions of a transport hub for transit cargo transportation to Uzbekistan, Ashrafkhanov added that the concrete work had already been conducted in this sphere.

Then, President of the National Confederation, Mammad Musayev informed the ambassador about the associations represented in the Board of the National Confederation.

"The National Confederation will make every effort to achieve the goals set for expanding economic cooperation between the two Turkic-speaking countries," Musayev said.

While summing up the results of the meeting, the president of the National Confederation stressed that a new stage of cooperation between the member-states of the Cooperation Council of Turkic-speaking States has begun this year on the initiative of the President of Azerbaijan, Chairman of the Cooperation Council of Turkic-Speaking States, Ilham Aliyev.

At the end of the meeting, a decision was made to continue cooperation between the National Confederation and the embassy to expand the economic, humanitarian, cultural ties between the two countries.

The foreign trade operations of Azerbaijan and Uzbekistan amounted to $30.5 million from January through May 2020, which is 24 percent more than in the same period of last year.

The National Confederation was established on March 5, 1999, in Baku and passed the official state registration. It unites over 1,000 business entities, including 35 associations and socio-economic unions.

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