Tashkent, Uzbekistan (UzDaily.com) — On 22 August 2024, ahead of the state visit of President of the Republic of Azerbaijan Ilham Aliyev to Uzbekistan, the Uzbek-Azerbaijani Business Forum took place in Tashkent.

During the forum, participants highlighted the breakthrough pace of multi-faceted Uzbek-Azerbaijani cooperation. Over the past five years, bilateral trade turnover has tripled, and this year the figure has increased by another 20%. Both countries are actively working towards the goal set by their leaders to increase mutual trade volumes to US$1 billion in the near future.

Investment cooperation is expanding across key economic sectors—from energy and urban development to machine engineering, and from textile and silk industries to agriculture. Major Azerbaijani companies such as PASHA Holding, MATANAT, SARDA Group, and SOCAR are successfully operating in Uzbekistan. In turn, significant Uzbek companies like Global Textile, AZ Silk, and BIZNESTEKS are actively represented in various regions of Azerbaijan.

A joint Investment Company has been launched, acting as a driving force for expanding investment interaction. A specific project portfolio has been developed in light industry, food production, green energy, healthcare, and other areas.

Following the forum, a substantial package of bilateral documents was signed, covering infrastructure development and urban construction, creation of new logistics centers, educational institutions, and sectoral associations in partner countries. A joint "Roadmap" was also adopted, outlining specific tasks for the development of cooperation and their implementation timelines.

Additionally, an exhibition titled “Made in Azerbaijan” was inaugurated during the high-level visit.