The authorities of Uzbekistan and Azerbaijan intend to increase mutual trade turnover from $230 million (21.31 billion rubles) in 2023 to $1 billion (92.66 billion rubles), the press service of the Ministry of Investments, Industry, and Trade (MIIT) of Uzbekistan informed.
It is noted that the parties held the next meeting of the Joint Intergovernmental Commission (IGC) on Cooperation in Bukhara. The meeting was chaired by the head of MIIT Uzbekistan, Laziz Kudratov, and the Minister of Economy of Azerbaijan, Mikayil Jabbarov.
'Measures to increase trade to $1 billion were discussed, including import substitution based on an analysis of demanded goods, regular trade and business missions, and exhibitions of national products in major cities on a reciprocal basis,' the statement said.
The participants of the meeting touched upon issues such as the production of silk products, the creation of a textile cluster, the organization of food production, and the construction of an international school. Sectors such as mechanical engineering, the production of electrical equipment, construction materials, energy, petrochemicals, agriculture, and tourism were identified by representatives of both sides as promising areas for cooperation.
The meeting also agreed on a schedule of mutual visits and the creation of a working group that will work on new projects and identify new areas of cooperation.
CentralasianLIGHT.org
August 15, 2024