On August 22, Tashkent, the capital of Uzbekistan, hosted the Uzbekistan-Azerbaijan business forum.

The event was co-organized by the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and the Investment Promotion Agency under the Ministry of Investment, Industry and Trade of Uzbekistan, with support from Azerbaijan’s Ministry of Economy and Uzbekistan’s Ministry of Investment, Industry and Trade.

The forum brought together officials from both countries, along with approximately 300 entrepreneurs from various sectors including construction, agriculture, the automotive industry, transport and logistics, healthcare, and tourism.

In their remarks, Mikayil Jabbarov, Azerbaijan’s Minister of Economy, and Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, emphasized that Azerbaijani President Ilham Aliyev’s ongoing state visit to Uzbekistan would further strengthen the partnership between the two nations.

The ministers highlighted the growth in Azerbaijan-Uzbekistan trade and economic relations and the rapid increase in mutual trade turnover.

They described the investment collaboration between the two countries as multifaceted and noted upcoming projects in agriculture, tourism, construction, pharmaceuticals, and the automotive industry. They referenced the Joint Roadmap for 2024-2025, which outlines plans for enhancing economic, trade, and investment cooperation. The Azerbaijan-Uzbekistan Investment Company, with an authorized capital of $500 million, was highlighted as a key player, currently exploring the financing of 15 joint projects. Entrepreneurs were encouraged to leverage the opportunities offered by this company.

The forum included presentations on Azerbaijan’s favorable business and investment climate, and opportunities in the Karabakh and East Zangezur economic regions.

Speakers included Yusif Abdullayev, Executive Director of AZPROMO, Nazim Hajiyev, Director General of the Azerbaijan-Uzbekistan Investment Company, and other officials.

The event featured a video showcasing Azerbaijan-Uzbekistan relations and saw the exchange of documents on collaboration in energy, education, logistics, and construction. It also focused on expanding cooperation between Baku and Tashkent, including the establishment of twinning relations between the cities of Guba and Jizzakh, and Shakhrisyabz and Beylagan.

The forum concluded with B2B meetings.