16:42 - 15.05.2025

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May 15, Fineko/abc.az. Uzbekistan is switching to the Azerbaijani model of agricultural insurance.

ABC.AZ informs, quoting Botir Usmonaliyev, representative of the Ministry of Economy & Finance of Uzbekistan, as saying this on the sidelines of the II International Forum of Agricultural Innovations in Baku.

Usmonaliyev noted that in recent years, Azerbaijan and Uzbekistan have been closely cooperating in the field of agricultural insurance, as this area is still underdeveloped in Uzbekistan.

"Azerbaijan has been successfully developing this industry for the past 5 years, and we have been cooperating for 2 years now, learning from Azerbaijan's experience - from the launch and implementation to how this new model works," he said.

Usmonaliyev added that, based on this, Uzbekistan has adopted a law on agricultural risk insurance, and funds similar to the Agricultural Insurance Fund of Azerbaijan are being developed.