Azerbaijan and Uzbekistan signed a pact on Friday that will see them set up a joint investment fund with an initial capital of $500 million, in a bid to bolster trade and create jobs
TASHKENT (Pakistan Point News / Sputnik - 24th February, 2023) Azerbaijan and Uzbekistan signed a pact on Friday that will see them set up a joint investment fund with an initial capital of $500 million, in a bid to bolster trade and create jobs.
The deal was signed in the Uzbek capital of Tashkent by Uzbekistan's Trade and Investment Minister, Laziz Kudratov, and visiting Azerbaijani Economy Minister Mikayil Jabbarov.
"Paragraphs contained in the document serve to increase investment and trade turnover between our countries and to strengthen economic cooperation," Jabbarov said on social media.
The Azerbaijani minister said the fund's capital would be increased gradually to accommodate the growing number of joint projects. The Central Asian neighbors agreed in summer to cooperate closely in such areas as oil and gas, textile and chemical manufacturing, and agriculture.
