BAKU, Azerbaijan, August 30. The Azerbaijan-Uzbek Investment Company is advancing a project to acquire a stake in the Artikul Aziya Kabel plant located in Uzbekistan, an informed source told Trend.
According to the information, this initiative is part of a strategic effort to expand production capacity and increase joint investments in key economic sectors.
Uzbekistan is a leading producer of electrical products, including power transformers, cables, wires, electronics, and household appliances. The country’s exports of these products exceed $1 billion, with primary markets in CIS countries, Eastern Europe, and Southeast Asia.
Azerbaijan also has developed an electrical industry, producing transformers (10,000 units), cables (100,000 km per year), and electronics. Major production facilities are located in cities like Baku and Ganja. In 2023, Azerbaijan imported about $500 million worth of electrical products, mainly from China, Russia, and Europe.
Additionally, Uzbek exports of electrical products to Azerbaijan reached $33 million in 2023. This included $14.1 million in household appliances, $17.1 million in cable and copper products, and $1.1 million in other components.
