Tashkent, Uzbekistan (UzDaily.com) -- On 18 July, the 12th meeting of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan took place. The dialogue was attended by heads of key ministries, departments, industry associations, commercial banks and educational institutions, as well as diplomatic missions of the two countries.

During the speeches, the heads of the delegations of the two countries noted the dynamic, steadily growing nature of the bilateral partnership, which is being strengthened thanks to the sincere and trusting relations of the Heads of the two states.

Success was noted in the practical implementation of the agreements reached earlier. Thus, in February, the first Uzbek-Azerbaijani Forum of Regions and the third meeting of the Business Council took place in Tashkent, which provided the ground for the development of direct contacts between business circles and further enhancement of bilateral cooperation.

In 2022 alone, the trade turnover between our countries increased 1.5 times, and since the beginning of this year, the figure has increased by 16%. In particular, supplies of textile products to Azerbaijan increased by 2.6 times, mechanical equipment - by 19.7%, glass and glass products - by 76%. In this context, it was emphasized that the economies of the two countries have sufficient potential for mutual trade to grow to US$1 billion in the coming years.

Particular emphasis was placed on joint actions to develop industrial cooperation. It was noted that over the past five years, the number of joint ventures with Azerbaijani capital established in Uzbekistan has increased 4 times. In just two years, about 40 enterprises have started working again. In turn, more than 70 enterprises with the participation of Uzbek capital are successfully operating in Azerbaijan.

During the meeting, issues of expanding cooperation in the areas of energy and transport, as well as the development of interregional, cultural and humanitarian ties were also considered.

As a result of the event, the Protocol of the 12th meeting of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan and a number of other agreements and memorandums were signed, strengthening the agreements reached on the sidelines of the IGC.