Azerbaijan and Uzbekistan to create joint investment fund


August 2, Fineko/ "The authorities of Uzbekistan and Azerbaijan plan to create a joint investment fund for the implementation of common projects."

ABC.AZ reports that the above-said statement was made during the meeting of Deputy Prime Minister - Minister of Investments & Foreign Trade of Uzbekistan Jamshid Khodjayev with Azerbaijani Economy Minister Mikail Jabbarov, who is visiting Uzbekistan currently.

Azerbaijan and Uzbekistan have agreed to intensify efforts for the timely and high-quality implementation of 87 joint projects and trade contracts worth over $500 million in the oil & gas industry, chemical industry, textile sector and agriculture.

In addition, during the dialogue the parties confirmed their intentions to continue the initiative on the creation of the Uzbek-Azerbaijani Investment Fund, in connection with which they agreed to develop and approve a roadmap for organizing its activities as soon as possible, as well as to begin developing an appropriate intergovernmental agreement.

During the discussion of prospects for strengthening transport and logistics ties, the negotiators agreed to intensify cooperation within the Uzbekistan-Azerbaijan intergovernmental agreement on international road transport, as well as to accelerate the transportation of wagons with goods for Uzbekistan across the Caspian Sea on the ferries of the Azerbaijan Caspian Shipping Company.