Deputy PM: Uzbekistan, Azerbaijan trade could reach $1B

Wed 06 Feb 2019 20:04 GMT | 00:04 Local Time

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Deputy Prime Minister of Uzbekistan Elyor Ganiyev at a meeting with Azerbaijani Minister of Economy Shahin Mustafayev stated that the trade between Uzbekistan and Azerbaijan could increase to $1 billion in the future.

“The turnover increased in 2018, we are pleased, but the numbers remain very modest. I am absolutely sure that we have no limits for the development of trade relations to $0.5 billion, and even maybe to $1 billion in the future,” noted Ganiyev.

Ganiyev noted that nowadays Uzbekistan has become open, transparent and accessible as a country.

“We hope the cooperation with Azerbaijan in these new conditions will create good opportunities for Azerbaijani businesses in Uzbekistan, as we have taken very important steps to liberalize the economy and improve the investment climate,” he said.

In his turn, Azerbaijani Minister of Economy Shahin Mustafayev noted that an unrealized potential exists in relations between Azerbaijan and Uzbekistan.

“Unfortunately, we have not taken the advantage of the potential that exists. There was huge progress over the past years; our governments have created a solid legal framework,” said Mustafayev.

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