BAKU, Azerbaijan, August 28. Uzbekistan
discussed the implementation of energy projects worth $2 billion
with Azerbaijan’s state-owned oil and gas company, SOCAR.
This was reflected in the statement by the Uzbek Ministry of
Investment, Industry and Trade, following a video conference
between Minister Laziz Kudratov and Rovshan Najaf, president of
SOCAR, on August 27.
According to the Ministry, in the course of the meeting, the
sides exchanged views on prospects for further expanding bilateral
trade, economic and investment cooperation, with particular
attention to ongoing joint projects and new initiatives.
Meanwhile, in Uzbekistan, SOCAR is involved in a hydrocarbon
development project with an estimated investment of around $2
billion, making energy cooperation a significant component of the
companies’ and countries’ broader economic ties.
“Particular attention was paid to the progress of ongoing joint
projects, as well as the development of new mutually beneficial
initiatives,” Uzbekistan’s Ministry of Investment, Industry and
Trade said.
The discussions also focused on opportunities to increase trade
volumes and advance strategic projects involving the two
countries.
The sides reaffirmed their readiness to continue close
cooperation aimed at expanding bilateral trade and supporting the
implementation of strategic joint projects.
The talks underscore the growing role of energy cooperation in
Uzbekistan-Azerbaijan economic relations, while also highlighting
efforts to broaden bilateral engagement through new investment and
commercial initiatives.
SOCAR is Azerbaijan’s state-owned oil and gas company,
established in 1992. The company employs more than 48,000 people
and operates internationally.
