"During the negotiations held on March 3, the parties reviewed measures for timely implementation of existing agreements, as well as prospects for strengthening trade, economic and investment cooperation with emphasis on broad involvement of business representatives from both countries in this process," reads the report.
In particular, issues related to the implementation of previously agreed projects in urban development, tourism and agriculture were discussed.
"Along with defining comprehensive tasks to accelerate ongoing work, the parties agreed on upcoming joint steps within the framework of supporting new investment projects," the statement says.
Positive dynamics in investment cooperation were noted. Presently, 257 enterprises with Azerbaijani investment are operating in Uzbekistan, including 56 joint ventures and 201 enterprises with 100% Azerbaijani capital.
"Noting the huge potential for multiple increase in these indicators, the parties agreed on plans to promote promising projects among the business communities of Uzbekistan and Azerbaijan. Following the meeting, mutual measures were also agreed upon to hold the 14th meeting of the Joint Intergovernmental Commission on cooperation in the first half of 2025 and other events within the bilateral agenda of Uzbek-Azerbaijani multifaceted cooperation," the MIIT notes.
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