Tashkent, Uzbekistan (UzDaily.com) -- On 24 December ar, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev, who is in Baku as part of a visit by a government delegation, met with Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafaev.

During the meeting, which was also attended by the heads of key ministries and departments of the two countries, a broad agenda of bilateral cooperation in the field of investment, trade and industrial cooperation was considered.

At the beginning of the meeting, the parties noted the positive dynamics in the development of bilateral relations and the important results of the state visit of the President of the Republic of Azerbaijan Ilham Aliyev to the Republic of Uzbekistan in June this year, which gave a powerful impetus to the deepening and expansion of the strategic partnership between the two countries.

The sides reviewed the current state and prospects for the development of trade relations. Mutual readiness was voiced to increase the volume of mutual trade to US$1 billion over the next 5 years, in connection with which a number of specific practical measures were agreed.

Among the promising areas of interaction is the expansion of direct contacts between the regions of the two countries. An agreement was reached to hold the next meeting of the Business Council and the first Forum of the Regions of Uzbekistan and Azerbaijan in early 2023 in Tashkent with the organization of a road show of promising investment projects.

During the conversation, specific practical measures were discussed to deepen industrial cooperation, meaning the creation of joint sericulture and textile clusters, the implementation of joint investment projects in the field of mechanical engineering, chemical, petrochemical and jewelry industries, energy, agriculture and other industries.

Following the talks, the parties expressed their commitment to further cooperation in order to promote the agreements reached and develop new areas of bilateral partnership.