Tashkent, Uzbekistan (UzDaily.com) —  On 8 November 2024, an international roundtable titled "Prospects for Economic Cooperation: A View from Think Tanks in Uzbekistan and Azerbaijan" was held in Tashkent. The event, organized by the Center for Economic Research and Reforms, focused on strengthening scientific cooperation and experience sharing between Azerbaijan and Uzbekistan.

This event marked an important step in realizing the goals set by Presidents Shavkat Mirziyoyev and Ilham Aliyev during the visit of the President of the Republic of Azerbaijan to Uzbekistan in August 2024.

At the meeting of the High Intergovernmental Council, the importance of information-analytical support for the development of bilateral relations was emphasized. It was proposed to engage one of the leading economic analysis centers to support joint initiatives.

In this regard, a delegation from the Center for Economic Research and Reforms visited Azerbaijan in September, where more than 20 meetings were held with representatives from government agencies, special economic zones, and business circles. As a result of this work, a comparative analysis of 18 key sectors of the economy was prepared, which became the basis for further discussion and determination of priority areas for cooperation.

Following up on bilateral cooperation, a return visit by an Azerbaijani delegation, including representatives from the Ministry of Economy and research circles, was organized. The delegation held meetings with key ministries and agencies in Uzbekistan, as well as higher educational institutions.

Obid Khakimov, Director of the Center for Economic Research and Reforms, and Shahin Sadigov, Chairman of the Board of the Institute of Economic Research of the Ministry of Economy of Azerbaijan, head of the Azerbaijani delegation, addressed the participants of the roundtable.

The event was attended by representatives of the Ministry of Economy of the Republic of Azerbaijan, the State Economic University of Azerbaijan (UNEC), the AZEXPORT portal, the Center for Economic Reforms and Communications, and the AZPROMO Agency.

From the Uzbek side, experts from the Center for Economic Research and Reforms and representatives of various ministries participated, including those from Transport, Higher Education, Science and Innovation, Economy and Finance, Agriculture, Investments, Industry and Trade, and Digital Technologies.

The primary goal of the roundtable was to discuss the integration of knowledge and analysis of the economic development opportunities of Uzbekistan and Azerbaijan. Participants examined key aspects of economic cooperation and created a platform for exchanging views between experts and think tanks, deepening scientific dialogue and joint initiatives.

A comparative analysis prepared by the Center for Economic Research and Reforms on key sectors of the economy was presented to the participants and became the basis for further defining priority areas for cooperation.

It was noted that both Uzbekistan and Azerbaijan are focused on identifying and implementing promising projects in the manufacturing sectors with high added value. These include the creation of joint production facilities for new products from hydrocarbons, such as synthetic fabrics and carbon fiber, as well as the production of chemical products in demand in both markets, which will contribute to economic development and strengthen bilateral relations.

In industrial cooperation, both countries are interested in creating export-oriented manufacturing with high added value, including establishing production of electric vehicles and infrastructure for electric transport, as well as developing the jewelry industry by attracting Azerbaijani craftsmen and organizing jewelry fairs, which will open new opportunities for mutually beneficial cooperation.

During the roundtable, the Azerbaijani side emphasized the importance of Uzbekistan’s experience, especially in the manufacturing industry, which is highly relevant for Azerbaijan as it focuses on the development of the non-oil sector.

At the conclusion of the event, a Memorandum of Understanding was signed between the Research Institute of Economics of the Ministry of Economy of the Republic of Azerbaijan and the Center for Economic Research and Reforms under the Administration of the President of the Republic of Uzbekistan.

This cooperation under the memorandum will mark an important step in strengthening scientific exchanges between Azerbaijan and Uzbekistan in the fields of economics and education, furthering the development and integration of both countries on the international stage.

At the end of the meeting, gratitude was expressed for the warm reception, and congratulations were extended for Azerbaijan’s Victory Day and the liberation of occupied territories, celebrated on November 8. The important role of Uzbekistan in the reconstruction of Karabakh was emphasized, highlighting the strong ties and mutual assistance between the two countries.

Thus, the visit of the Azerbaijani delegation to the Republic of Uzbekistan came to a close.