Baku: President of Azerbaijan Ilham Aliyev has prioritized investment in Uzbekistan, citing the friendly and brotherly relations between the two nations and the favorable investment climate fostered by Uzbekistan’s leadership. During a joint press statement with President of Uzbekistan Shavkat Mirziyoyev, Aliyev expressed Azerbaijan’s commitment to bolstering economic ties with Uzbekistan.

According to Azeri-Press News Agency, President Aliyev noted the strategic significance of investing in Uzbekistan, attributing it to the successful reforms implemented by President Mirziyoyev, which have made Uzbekistan an attractive destination for investors. He highlighted the plans to increase trade turnover and mutual investments significantly.

Aliyev pointed out the joint investment fund, which was established recently and is already filled with projects, with more than ten projects nearing final investment decisions. The fund’s authorized capital stands at $500 million, but Aliyev emphasized that the plans aim to exceed this figure substantially. The Azerbaijani President expressed confidence that collaborative projects in sectors such as energy, the hotel industry, construction, and agriculture would drive substantial growth in mutual investments.

President Aliyev concluded by affirming that the joint initiatives align with the spirit of brotherly relations between Azerbaijan and Uzbekistan, reflecting a shared commitment to economic cooperation and development.