BAKU, Azerbaijan, August 21. Azerbaijan and Uzbekistan have signed a document on cooperation in the fields of metallurgy, energy, and pharmaceuticals, Minister of Economy of Azerbaijan Mikayil Jabbarov said, Trend reports.
"At the Azerbaijan-Uzbekistan business forum, attended by Uzbekistan's Minister of Investment, Industry, and Trade Laziz Kudratov, we highlighted the vibrant growth of economic relations between our nations. Moreover, we exchanged ideas on enhancing collaboration in trade, investments, industry, and agriculture," said the minister on his account on the social network X (Twitter).
"We extended invitations to Uzbek companies to take advantage of the favorable business environment and investment climate, including the tax incentives designed for foreign investors in Azerbaijan. The agreements inked between Azerbaijani and Uzbek institutions in the metallurgical and pharmaceutical sectors within the business forum will significantly bolster our economic ties," said Jabbarov.
The business forum was attended by representatives of various government agencies and entrepreneurs from the two countries working in the fields of agriculture, food and textile industries, pharmaceuticals, construction, tourism, logistics, and other areas.
In addition, within the framework of the event, information was provided on ongoing investment projects, including the creation of enterprises in the automotive and textile industries in Azerbaijan, as well as a cotton cluster. Moreover, effective joint activities in the energy sector were discussed. One of the promising areas of cooperation is the transport sector; in this regard, the parties have great potential within the Middle Corridor.
The participants of the business forum were informed about the favorable investment environment in Azerbaijan and the economic reforms being implemented. Furthermore, the participants were informed about the industrial zones operating in the country, including the Alat Free Economic Zone, projects in the territories liberated from occupation, and opportunities for investors.