TASHKENT — Uzbekistan and Azerbaijan are set to develop a joint online platform aimed at enhancing their economic relations, as announced by Uzbekistan's Minister of Investment, Industry and Trade, Laziz Kudratov. The platform is designed to simplify trade operations and increase visibility for businesses in both countries, fostering a unified digital market space.

According to Trend News Agency, Minister Kudratov highlighted the benefits of the new platform during his announcement. "This platform will provide entrepreneurs with several benefits, including simplifying trade operations and increasing business visibility," he stated. The initiative aims to support small and medium-sized enterprises by providing them access to international markets and facilitating the initiation of joint ventures in sectors like energy and industry.

Kudratov also noted the significant support that will be focused on small and medium-sized businesses, enabling them to leverage the platform for entering global markets. Moreover, the digital space will ease the trading process, enhancing the purchase and sale of goods and services across borders. “We plan to launch this platform soon, which will significantly boost the volume of bilateral trade and elevate our economic relations to a new level,” he added.

The establishment of this platform is expected to contribute substantially to the trade dynamics between the two nations. From January through July 2024, the trade turnover between Uzbekistan and Azerbaijan exceeded $118.2 million, with Uzbekistan importing goods worth $18.6 million from Azerbaijan and exporting $99.6 million worth of goods to the country.