Azeri-Uzbek textile ties to expand to Azeri 'liberated territories'

The ‘liberated territories’ are the areas that Azerbaijan regained control over during the 2020 Nagorno-Karabakh war. This conflict, which lasted from late September to November 2020, was between Azerbaijan and the ethnic Armenian forces in Nagorno-Karabakh backed by the Armenian military.

These territories include parts of Nagorno-Karabakh itself as well as the surrounding seven districts—Lachin, Kalbajar, Aghdam, Fuzuli, Jabrayil, Zangilan, and Qubadli.

Significant progress has been recorded between the two countries in traditional areas like cotton growing and sericulture, and work is under way in Azerbaijan's Imishli district to set up a joint cotton cluster, Jabbarov told the second Azerbaijani-Uzbek Interregional Forum in Guba.

The Azerbaijani-Uzbek Investment Company, founded early last year, has a charter capital of $500 million. Its activities focus on promoting mutual investments, trade and overall economic partnership, thereby strengthening economic relations between Azerbaijan and Uzbekistan, Uzbek media outlets reported.

Between January and March this year, the bilateral trade turnover between the two sides was worth $142 million.

Fibre2Fashion News Desk (DS)