Uzbekistan and Azerbaijan are set to collaborate on a $150mn joint ferry production initiative aimed at addressing Uzbekistan's transport needs, according to Trend.
The venture will focus on producing ferries specifically for Uzbekistan, reflecting a growing commitment to enhancing bilateral transport and transit cooperation. Discussions are also underway to explore additional collaborative measures, such as joint warehouse infrastructure development and the formation of a joint venture to improve transportation along the Trans-Caspian route.
On August 23, Azerbaijani President Ilham Aliyev highlighted the importance of maritime cargo transportation, particularly in relation to the China-Kyrgyzstan-Uzbekistan railway project. He also announced Azerbaijan's acquisition of four Aframax tankers and emphasized the potential for expanded cooperation in Black Sea cargo transport.
Furthermore, last August, former Deputy Transport Minister Abdusamat Muminov expressed Uzbekistan's interest in utilizing Baku Port's warehousing infrastructure. The Port of Baku handled 904,000 tons of cargo in 2022, marking a 65% increase from the previous year.
In July, Uzbekistan and Azerbaijan aimed to increase trade volumes to $1bn by focusing on import substitution, reciprocal trade missions, and national product exhibitions in major cities. The 13th session of their Intergovernmental Commission, held in Bukhara, was co-chaired by Laziz Kudratov of Uzbekistan and Mikayil Jabbarov of Azerbaijan. The meeting, attended by high-level officials and industry leaders, emphasized expanding bilateral cooperation. Bilateral trade rose by 26.5% to $231.6mn in 2023, with a further 2.6% increase this year.
In prior discussions, the presidents of Uzbekistan and Azerbaijan explored the creation of a joint logistics company within the Trans-Caspian Corridor and the construction of warehouses and logistics centers in Baku and other strategic ports.
Additionally, on August 22, Uzbekneftegaz Chairman Bakhodirjon Sidikov and SOCAR President Rovshan Najaf signed an agreement outlining cooperation principles in the oil and gas sector. At the Uzbek-Azerbaijani business forum, Minister Laziz Kudratov announced the initiation of joint geological exploration on the Ustyurt plateau and invited Azerbaijani companies to participate in mineral resource development projects in Azerbaijan.
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