Uzbekistan And Azerbaijan Textile Partnership Grows Stronger
The 13th meeting of the joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan, held in Bukhara on July 10, emphasized the deepening collaboration in the textile sector. Chaired by Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, and Mikayil Jabbarov, Azerbaijan’s Minister of Economy, the discussions highlighted efforts to boost textile trade and investment between the two nations.
Key Developments in Textile Cooperation
In 2023, bilateral textile trade surged by 26.5% to reach $231.6 million, underscoring the sector’s pivotal role in bilateral economic relations. The meeting explored strategies to further enhance textile trade, including initiatives for import substitution and joint ventures in textile production.
Uzbekistan’s goal to reach $1 billion in textile trade through collaborative efforts and reciprocal trade missions was reiterated, aiming to capitalize on the complementary strengths of both countries in the textile industry.
Industrial cooperation saw significant progress, with Uzbekistan hosting 236 Azerbaijani-backed enterprises, including joint ventures and wholly-owned subsidiaries. Projects in silk production, textile clusters, and the establishment of international standards in textile manufacturing were among the key priorities discussed.
The Joint Uzbek-Azerbaijani Investment Fund emerged as a vital mechanism to support these initiatives, reflecting mutual commitments to expand textile production capacities and enhance market competitiveness.
The meeting also highlighted the importance of strengthening transport and logistics infrastructure to facilitate seamless trade flows in textiles and other sectors. Twinning agreements between key cities further underscored the commitment to deepen interregional ties, fostering a conducive environment for sustained growth and development in the textile industry.
The adoption of a comprehensive Final Protocol marked a milestone in solidifying the agreements reached, setting clear pathways for the implementation of joint textile projects and initiatives. The outcomes of the meeting signal a promising trajectory for Uzbekistan and Azerbaijan’s textile cooperation, poised to capitalize on shared opportunities and propel mutual economic prosperity.
