Mirziyoyev: Joint project portfolio of Uzbekistan, Azerbaijan reaches $4B

The joint project portfolio of Uzbekistan and Azerbaijan has reached 4 billion, said President of Uzbekistan, Shavkat Mirziyoyev, Report informs, citing the president’s press service.

It was noted that a meeting between Azerbaijan President Ilham Aliyev and Uzbekistan President Shavkat Mirziyoyev, as well as the second session of the Supreme Interstate Council of the two countries, was held in Baku on July 2.

The presidents discussed the main prospects of the future development of Uzbekistan-Azerbaijan relations, strategic partnership and expansion of practical cooperation. The focus was on strengthening cooperation in industry, energy, transport, agriculture, tourism, banking sector and other areas.

"Never in history have our relations been at the highest level as they are today," the Uzbek leader noted.

Mirziyoyev emphasized the special significance of the visit dedicated to the 30th anniversary of the establishment of diplomatic relations between the countries.

According to the results of the talks, significant progress in trade and economic cooperation was highlighted. Trade turnover between the countries increased by 25%. Currently, about 300 joint ventures operate in Azerbaijan and Uzbekistan. The parties considered the possibilities of increasing trade turnover and investment volume to $1 billion per year.

The leaders of the two countries expressed support for new formats of interaction, such as the Entrepreneurs Council and the Forum of Industrial and Economic Zones. They supported the idea of expanding the activities of the joint investment company.

Both presidents underscored transport cooperation and participation in the development of the Middle Corridor. It was particularly noted that the transportation of Uzbek cargo along this route increased by 25%, exceeding 1 million tons. From March 2025, the parties will switch to electronic permits for cargo transportation.

Plans for the export of Uzbek electricity to Europe were also discussed, and cultural events in honor of the 30th anniversary of diplomatic relations were agreed upon.

The heads of state also exchanged views on the international and regional agenda.

At the end of the meeting, it was decided to adopt a roadmap for the timely and quality implementation of the agreements reached.