BAKU, Azerbaijan, May 2. Azerbaijan's Azersun Holding may be entering the Uzbek market, 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.
"We have been in communication with Azersun representatives, and I believe they will enter the Uzbek market as potential investors," he said.
The minister pointed out several potential investment projects to be implemented between Azerbaijan and Uzbekistan.
"I would like to thank our colleagues in Uzbekistan who have facilitated the partnership within our joint investment fund, we highly appreciate it. Yesterday, we held the first meeting of the oversight committee. We discussed more than 10 projects in various fields," Jabbarov added.
Azersun Holding is a sizable holding company that brings together the top businesses in Azerbaijan's food industry. The organization has launched over thirty businesses in the food production, agricultural, and packaging container manufacturing sectors. It exports goods to more than 40 countries and meets the majority of Azerbaijan's local food market demand.
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.
