On February 20, 2018 Chamber of Commerce and Industry held an Uzbek-Azerbaijani business forum and cooperation exchange with the participation of entrepreneurs of the two countries, which will serve as an additional incentive for the development of business cooperation, as well as attracting foreign investment to implement joint projects.
The main goal of this event is to promote the establishment and expansion of trade ties between the entrepreneurs of the two countries, the growth of the number of new joint ventures and the increase in bilateral trade.
More than 20 representatives of large Azerbaijani companies engaged in the field of textiles, oil and gas industry, publishing, printing, pharmaceuticals, medical products, construction, restaurant business, trade, packaging, as well as more than 50 representatives of large enterprises and companies from all regions of the republic.
During the event, issues of mutual cooperation on strengthening cooperation between entrepreneurs of the two countries were discussed.
Trade relations between the two countries are carried out in the free trade regime. In 2017, the commodity turnover amounted to 31.2 million US dollars, including export - 26.2 million US dollars, imports - 4.9 million US dollars.
There are 84 Azerbaijani enterprises operating in the Republic of Uzbekistan, 71 of them are Joint Ventures and 11 enterprises with 100% foreign fund.
The main areas of activity of these enterprises: trade, engineering and metalworking, finance and insurance, real estate operations, energy, services, jewelry production and repair, food and light industry.
Representation of 1 company from the Republic of Azerbaijan is accredited at the Ministry of Foreign Trade.
Two Uzbek enterprises were created in Baku: Representation of the National Air Company "Uzbekistan Airways" and the dealer center of SJSC "Uzavtosanoat" LLC "Uzavto Baku".
A cooperation exchange was organized for entrepreneurs of the two countries, which served to strengthen partner relations, expand trade and economic relations, establish joint ventures and implement investment projects.
Within the framework of the business forum, an agreement on cooperation between the Chamber of Commerce and Industry of the Republic of Uzbekistan and the National Confederation of Entrepreneurs of the Republic of Azerbaijan was signed.
As a result of the business forum, a press conference was organized for the media with the participation of the Chairman of the Chamber of Commerce and Industry of the Republic of Uzbekistan Adham Ikramov and the President of the National Confederation of Entrepreneurs of the Republic of Azerbaijan, Mamed Musayev Kurban oglu.