Azeri-Uzbek Textile Cooperation Expands into Azerbaijan's Liberated Territories
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- Published: Thursday, 23 May 2024 10:33
A promising venture is underway to expand textile cooperation between Azerbaijan and Uzbekistan into Azerbaijan's recently liberated territories, announced Mikayil Jabbarov, the country’s Minister of Economy. These 'liberated territories' refer to the regions regained by Azerbaijan during the 2020 Nagorno-Karabakh war, marking a significant development in the post-conflict reconstruction efforts.
The Nagorno-Karabakh conflict, spanning from late September to November 2020, saw Azerbaijan engaging with ethnic Armenian forces in Nagorno-Karabakh, backed by the Armenian military. Following the conflict, Azerbaijan regained control over parts of Nagorno-Karabakh itself, along with seven surrounding districts—Lachin, Kalbajar, Aghdam, Fuzuli, Jabrayil, Zangilan, and Qubadli.
Minister Jabbarov highlighted significant progress in traditional sectors such as cotton cultivation and sericulture between Azerbaijan and Uzbekistan. He disclosed ongoing efforts to establish a joint cotton cluster in Azerbaijan's Imishli district, signaling a deepening collaboration in the textile industry.
The Azeri-Uzbek Investment Company, established early last year with a charter capital of $500 million, plays a pivotal role in fostering mutual investments, trade, and overall economic partnership between the two nations. Reports from Uzbek media outlets underscore the company's focus on enhancing economic relations between Azerbaijan and Uzbekistan.
Statistics reveal a burgeoning bilateral trade turnover between Azerbaijan and Uzbekistan. Between January and March this year alone, the trade volume between the two nations amounted to $142 million, reflecting the growing economic ties and mutual interest in furthering cooperation.
The expansion of textile cooperation into Azerbaijan's liberated territories holds significant promise for economic development and revitalization in the region. By leveraging the expertise and resources of both Azerbaijan and Uzbekistan in the textile industry, this initiative aims to stimulate job creation, promote economic growth, and contribute to the overall prosperity of the affected areas.
As Azerbaijan continues its efforts in post-conflict reconstruction and development, collaborations with neighboring countries like Uzbekistan provide invaluable opportunities for mutual benefit and regional stability. The expansion of textile cooperation stands as a testament to the shared commitment of Azerbaijan and Uzbekistan towards fostering economic prosperity and cooperation in the region.