BAKU, Azerbaijan, September 25. Uzbekistan
expects to increase trade turnover with Azerbaijan to $2 billion
over the next few years, Uzbekistan’s Minister of Investment,
Industry and Trade Laziz Kudratov told Trend in an interview on Friday on the
sidelines of the 2nd Azerbaijan International Investment Forum in
Baku.
The minister said the increase in trade between the two
countries would be driven not only by the exchange of goods but
also by joint investment projects.
“We are increasing our trade not only through the simple
exchange of goods but also through joint investments. Uzbekistan is
investing in Azerbaijan’s textile sector, and we have joint
projects in automobile manufacturing. Through these projects, we
can increase trade turnover,” Kudratov said.
According to him, investments by Azerbaijan in Uzbekistan are
also contributing to the expansion of trade ties between the two
countries.
“Azerbaijan is investing in mining, energy, food and real estate
sectors in Uzbekistan. All of this will generate significant flows
of cargo and products. We believe that we can easily increase our
trade turnover to $2 billion over the next few years,” the minister
emphasized.
Kudratov noted that the two countries are also discussing new
areas of investment.
“We are currently looking at new areas such as pharmaceuticals,
construction materials, agriculture and food processing. The
prospects are quite positive,” he said.
The minister said cooperation in construction materials
production is already being accompanied by specific projects.
“Projects involving Azerbaijani investment in the production of
construction materials in Uzbekistan have already been completed
recently. The second phase has also begun. We are currently
discussing new projects in Azerbaijan with our Azerbaijani
counterparts. These include construction materials, as well as
development and construction projects in Azerbaijan,” Kudratov
said.
The minister said cooperation between Azerbaijan and Uzbekistan
in developing the Middle Corridor is also making an important
contribution to expanding trade ties.
“We have already more than doubled the volume of cargo
transportation via the Middle Corridor over the past few years.
Positive dynamics are continuing this year as well. We are
establishing a joint venture for cargo transportation across the
Caspian Sea,” he said.
According to him, there is considerable potential to further
increase cargo transportation along the Middle Corridor.
“We are quite optimistic and see numerous prospects and
opportunities for further increasing and developing trade volumes
via the Middle Corridor,” the minister added.
Kudratov also praised the organization of the second Azerbaijan
International Investment Forum.
“This is a very well-organized event. There is a high-quality
audience, with many companies, investors and ministers
participating. It creates a platform not only to see Azerbaijan and
discuss business opportunities with Azerbaijan, but also for the
broader region,” the minister said.
He noted that the forum provides an important platform for
government representatives from different countries and investors
to meet and discuss mutually beneficial business opportunities.
“Many governments and countries can meet investors here and
discuss mutually beneficial business opportunities,” Kudratov
emphasized.
Asked whether separate talks were being held regarding the Shah
Deniz gas-condensate field in Azerbaijan, Kudratov said the issue
is not currently on the agenda.
“I do not have any information about this at the moment. I think
this issue is not on the agenda for now,” the minister said.
He also provided information on plans by Azerbaijan’s State Oil
Company (SOCAR) to establish a network of filling stations in
Uzbekistan. According to the minister, opportunities are being
considered to establish SOCAR stations in various regions of
Uzbekistan.
“We have proposed all regions and identified possible locations
in all provinces and in Tashkent. The locations of the first five
stations have already been identified. They are in Tashkent,
Tashkent region, Samarkand, Jizzakh and Namangan,” Kudratov
said.
He noted that SOCAR representatives visited Uzbekistan recently
and technically assessed additional locations.
“The SOCAR team was in Uzbekistan about a week ago. They also
technically assessed additional locations. We are open; the market
is large, and demand is very high. Therefore, we are ready to
create all the necessary conditions for SOCAR to enter Uzbekistan’s
retail fuel market,” the minister emphasized.
Kudratov said the filling stations would be established through
both new construction and the modernization and rebranding of
existing facilities under the SOCAR brand.
“Both options are envisaged here: construction from scratch, as
well as the modernization and rebranding of existing filling
stations. Work in this area is also at an active stage,” he
added.
The minister also noted that cooperation between Azerbaijan and
Uzbekistan in developing the Middle Corridor would make an
important contribution to expanding trade ties between the two
countries.
“We have already more than doubled cargo transportation via the
Middle Corridor over the past few years. Positive dynamics are
continuing this year as well. We are establishing a joint venture
for cargo transportation across the Caspian Sea. We see significant
prospects and opportunities to further increase and expand trade
volumes along the Middle Corridor,” Kudratov said.
He also highlighted the importance of the second Azerbaijan
International Investment Forum for regional cooperation.
“This is a very well-organized event. A high-level audience, a
large number of companies, investors and ministers are
participating. The forum creates a platform not only to see
Azerbaijan and discuss business opportunities with Azerbaijan, but
also for the broader region. Many governments and countries can
meet investors here and discuss mutually beneficial business
opportunities,” the Uzbek minister added.
