BAKU, Azerbaijan, August 22. Uzbekistan and Azerbaijan plan to establish trade houses and showrooms in Baku, Shusha, Tashkent, and Samarkand, Uzbek Minister of Investment, Industry and Trade Laziz Kudratov said at the Uzbek-Azerbaijani business forum in Tashkent, Trend reports.
"Regarding priority areas of cooperation, I would like to highlight the aim to increase and diversify our mutual trade. The governments of both countries are discussing the implementation of import substitution programs and the development of infrastructure to enhance the sale of domestically produced goods and establish dedicated spaces for these products.
This also includes plans to open trade houses and showrooms in national pavilions in Azerbaijan's Baku and Shusha, with reciprocation in Uzbekistan's Tashkent and Samarkand," the minister said.
The Uzbek-Azerbaijani business forum, which kicked off in Tashkent today, aims to strengthen economic ties between the two countries, enhance cooperation, attract investments, and realize joint projects. The forum will serve as a platform for discussing ways to increase trade, share experiences, and establish new business partnerships.
Currently, a total of 236 Azerbaijani-capital enterprises operate in Uzbekistan, including 62 joint ventures and 174 fully foreign-owned enterprises. Additionally, 70 Uzbek companies are active in Azerbaijan.
The trade turnover between Azerbaijan and Uzbekistan surpassed $118.2 million from January to July 2024.
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