TASHKENT, Uzbekistan, August 22. Azerbaijan’s state oil company SOCAR plans to enter Uzbekistan’s retail fuel market, followed by investments in the construction of a network of filling stations, Azerbaijan’s Minister of Economy Mikayil Jabbarov said at the fourth Uzbekistan-Azerbaijan Regional Forum in Tashkent, Trend's special correspondent reports.
According to Jabbarov, SOCAR’s activities in Uzbekistan will include entering the retail market and subsequently investing in the development of a network of filling stations.
Jabbarov also highlighted the involvement of another major Azerbaijani state-owned company, AzerGold, in projects in Uzbekistan. “My colleague has already mentioned AzerGold, another major state-owned company that, in partnership with Uzbek companies, will carry out both geological exploration and mining operations,” the minister said.
He emphasized that these projects are being implemented directly in Uzbekistan’s regions. “All this activity is taking place in the regions of Uzbekistan,” Jabbarov noted.
The fourth Uzbekistan-Azerbaijan Regional Forum focuses on expanding interregional economic cooperation and implementing joint investment and trade projects. The forum is being held in Tashkent and aims to further develop direct ties between the regions of the two countries and expand cooperation in investment, industry and trade.
