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Azerbaijani-Uzbek trade turnover grows in 2020 despite pandemic

Business Materials 28 January 2021 10:14
Azerbaijani-Uzbek trade turnover grows in 2020 despite pandemic

BAKU, Azerbaijan, Jan. 28

By Fidan Babayeva - Trend:

Uzbekistan's bilateral trade with Azerbaijan grew by 12 percent in 2020 compared to 2019 despite the COVID-19 pandemic, Trend reports referring to the Uzbek Embassy.

An online business forum of Uzbek exporting organizations with potential business partners from Azerbaijan was held on January 27.

According to the embassy, ​​Azerbaijan and Uzbekistan have increased the immunity of bilateral trade relations from the likelihood of the impact of the current crisis in the global economy.

"In November 2020, the first meeting of the Azerbaijani-Uzbek Business Council was held, which marked the commissioning of a new mechanism to promote trade and economic relations between the two countries," the event participants noted.

In addition, the speakers noted with deep satisfaction the fact that online exhibitions ‘Made in Uzbekistan Online’ and ‘Made in Uzbekistan Textile’ were successfully held in June and August last year, as well as ‘Online Business Matching’ was organized for domestic exporting organizations with potential business partners from Azerbaijan in such sectors of the economy as food processing and agriculture, automotive, textile and electrical industries.

About 100 Uzbek producers of export-oriented products and more than 150 entrepreneurs from Azerbaijan took part in these exhibitions.

For the productive implementation of the business event’s tasks, over 200 business meetings of ‘Online Business Matching’, presentations of companies with the participation of their leaders and associations in the context of the industries of Uzbekistan according to the thematic days and the schedule of meetings through an electronic online platform were organized within the event’s framework.

At the same time, the parties agreed to make additional efforts to further promote mutually beneficial ties in the areas of trade, economic, and investment exchange.

The forum organizers were the Ministry of Investments and Foreign Trade, the Chamber of Commerce and Industry, and the Agency for Attracting Foreign Investments of Uzbekistan together with the Ministry of Economy and the Azerbaijan Export and Investment Promotion Fund.

At the opening ceremony of the event, from the Uzbek side welcoming speeches were made by First Deputy Minister of Investments and Foreign Trade Laziz Kudratov, Ambassador to Azerbaijan Bahrom Ashrafkhanov, and other representatives.

From the Azerbaijani side, the speeches were made by Deputy Minister of Economy Rovshan Najaf, Ambassador to Uzbekistan Huseyn Guliyev, head of Azpromo Yusif Abdullayev, and other representatives.

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Follow the author on Twitter: @Fidan_Babaev

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