Mirziyoyev and Aliyev Visit Uzbek-Azerbaijani Textile Factory in Khankendi

President of Uzbekistan Shavkat Mirziyoyev and President of Azerbaijan Ilham Aliyev have visited the Businesstex JV textile factory in Khankendi, according to Azerbaijan’s state news agency Azertac.

The joint Uzbek-Azerbaijani enterprise launched operations in autumn 2024, with both leaders attending the official opening. Initial investment in the project totalled $3.5 mln (6 mln manats). The Azerbaijan Entrepreneurship Development Fund also extended a loan of $2 mln (3.5 mln manats).

The factory produces a range of men’s and women’s clothing, with a daily output of 2,500 units. It sources raw materials from Uzbekistan, Azerbaijan and China.

Authorities have granted Businesstex JV VAT and customs duty exemptions totalling $376,400 (640,000 manats).

Plans are in place to expand production to 5 mln units, with part of the output aimed at export markets.

Kursiv Uzbekistan reports that Uzbekistan and Azerbaijan had agreed on a cooperation roadmap through to 2029.