Tashkent, Uzbekistan (UzDaily.com) -- On 24 February, a meeting was held in Tashkent between the Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov and the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov, who is visiting our country. The meeting was also attended by the heads of relevant ministries of departments of the two countries.

It was noted that thanks to the trust of the Heads of the two states, relations between Uzbekistan and Azerbaijan are at a historically high level and are characterized by positive and sustainable development dynamics.

During the talks, the prospects for increasing the volume of bilateral trade, which grew by 53% in 2022, were discussed. A specific goal has been set - to bring the indicators to the mark of US$1 billion. This is planned to be achieved, among other things, by increasing the supply of petrochemical products, ores and concentrates, aluminum, food products, mechanical and electrical equipment, textile and pharmaceutical products.

An agreement was reached to work out the organization of supplies of fruits and vegetables, food, textile, leather and footwear products, as well as to hold regular trade and business missions, exhibitions of national products in the largest cities of the two countries.

On the example of specific project initiatives, the possibilities of expanding industrial cooperation between the two countries are considered. We are talking about a systematic approach to the development of new projects based on competitive advantages and organizing the activities of the Uzbek-Azerbaijani Investment Fund for their co-financing. Among the most promising areas of cooperation are the automotive industry, cotton and textile production, sericulture and others.

In a similar vein, the possibilities of implementing a number of projects in the field of transport and logistics were studied. It was agreed to adopt incentive measures to increase rail freight and transit.

The parties also welcomed the holding of the first Forum of the Regions of Uzbekistan and Azerbaijan and the third meeting of the Business Council within its framework. In an open and constructive manner, the practical aspects of the implementation of the documents planned for signing were analyzed.

As a result of the meeting, the commitment to further development and strengthening of the strategic partnership with Azerbaijan was confirmed and the approval of the "Road Map" was agreed, including specific measures for the practical implementation of the agreements reached.