Tashkent Signs $400 mln Worth of Deals with Azerbaijani Companies

Tashkent authorities have signed agreements totalling $400 mln with Azerbaijani companies, according to Sharof Rakhmanov, Deputy Mayor of the Uzbek capital. He made the announcement during an interview with Uzbekistan 24 TV.

The planned projects include the construction of hotels, a shopping centre, restaurants and cafés. Rakhmanov highlighted the development of the Uzbekistan Park in Baku as a strategic initiative.

Earlier, Azerbaijani President Ilham Aliyev called Uzbekistan a highly attractive destination for investment.

«Both Uzbekistan and Azerbaijan are not only actively investing in the development of their own economies but are also expanding their capital into friendly countries. For us, investment in Uzbekistan remains a priority,» Aliyev said.

Previously, the leaders of both nations discussed the goal of boosting annual trade and investment volumes to $1 bn. Tashkent and Baku also aim to adopt a new cooperation programme across agriculture, healthcare, banking and tourism.

Kursiv Uzbekistan also reported on the opening of a showroom featuring Uzbek products in Baku.