BAKU, Azerbaijan, May 2. Azerbaijan and Uzbekistan have observed significant growth in transport cooperation, said Azerbaijan's Minister of Economy Mikayil Jabbarov as he addressed the panel discussion themed "Joint way to success: Uzbekistan & Azerbaijan" held as part of the Tashkent Investment Forum, TurkicWorld reports.
"The cooperation between Azerbaijan and Uzbekistan in the transport sector started two years ago. We have achieved mutual understanding and applied a special tariff policy to ensure comfortable transport conditions. We can see significant growth in this area - more than 300 tons of cargo transported via automobile and railway roads," he said.
The minister also noted the joint activities in automobile cooperation, highlighting the role of UzAuto Motors and Azermash.
Mikayil Jabbarov also spoke about the cooperation between Azerbaijan and Uzbekistan within the joint investment fund.
"I would like to thank our colleagues in Uzbekistan who have facilitated this partnership, we highly appreciate it. Yesterday, we held the first meeting of the oversight committee. We discussed more than 10 projects in various fields," he added.
Meanwhile, the trade turnover between Azerbaijan and Uzbekistan from January to March 2024 totaled $142 million. The two countries' economies have enough potential for mutual trade indicators to reach $1 billion in the coming years.
