BAKU, Azerbaijan, February 21. The current investment portfolio between Uzbekistan and Azerbaijan includes around 30 projects with a total value of $3.4 billion, Trade and Economic Adviser to the Ambassador of Uzbekistan Sanjar Makhmudov told Trend on the sidelines of the roundtable titled “Uzbekistan–Azerbaijan: Architecture of Allied Cooperation.”
“We have made significant progress in shaping a new package of projects worth approximately $10 billion. It is currently at the coordination stage,” he noted.
According to Makhmudov, the future package will cover a broad range of sectors, including virtually all areas of the economy and industrial cooperation.
“We aim to expand textile exports to Azerbaijan. This year, we intend to increase supplies to $50 million, compared to about $30 million last year,” he said.
The diplomat also announced plans to open a new trade house for agricultural products, which will showcase goods from Uzbek producers.
“Another project involves the establishment of a construction materials trade house in Aghdam,” Makhmudov added.
He emphasized that, at the initial stage, the trade house will feature furniture, electrical equipment, and construction materials, with plans to develop industrial cooperation on this platform in the future.
Speaking about the transport dimension, Makhmudov underlined the strategic objective of building Uzbekistan’s own transport infrastructure on the Caspian Sea.
“Our key goal is to acquire our own vessel for operations on the Caspian Sea. We are actively engaging with the Baku Shipyard regarding a potential purchase,” he said.
According to him, the launch of an Uzbek fleet within the next one to two years could provide a significant boost to cargo transportation and strengthen the transit potential of both countries.
“The project is currently at the final stage of elaboration,” Makhmudov concluded.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel