Azerbaijan and Uzbekistan to cooperate in field of textiles in liberated lands

17:23 - 21.05.2024

May 21, Fineko/ Joint textile work with Uzbekistan is planned in the occupation-liberated territories of Azerbaijan. At the initial stage, it is planned to open more than 400 new jobs.

ABC.AZ reports that Azerbaijani Economy Minister Mikayil Jabbarov said this during the II Azerbaijan-Uzbekistan Interregional Forum in Guba.

"Referring to another priority area of our economic relations – investment cooperation, I would like to mention the Azerbaijani-Uzbek Investment Company established at the beginning of last year with an authorized capital of $500 million," he stressed.

The minister mentioned that the activities of the Azerbaijani-Uzbek Investment Company are designed to stimulate mutual investment, trade and economic partnership in general, contributing to the further strengthening of economic ties.

"Our partnership with Uzbekistan is multilateral and covers a wide variety of economic sectors," Jabbarov added.

He also stated that significant progress has been made between the countries in traditional areas such as cotton and sericulture, and work is underway in Imishli region of Azerbaijan to create a joint cotton cluster.