Uzbek President Shavkat Mirziyoyev, on a two-day state visit to Azerbaijan, arrived in Baku on 22 August, cementing closer ties between the two nations. The visit, which was marked by ceremonial receptions and strategic talks, highlighted the growing political and economic rapport between the Central Asian and Caucasus neighbours.
In a tête-à-tête, the two leaders — Ilham Aliyev of Azerbaijan and Mirziyoyev — discussed opportunities for collaboration across various sectors, including politics, trade, economics, and transport. Notably, the heads of state expressed their satisfaction with the surge in trade and industrial cooperation, identifying potential avenues to push the trade turnover to $1bn. The leaders see this as an opportunity to replace pricier imports with affordable products from their national manufacturers.
According to sources, both presidents recognised the importance of bolstering their energy, metallurgy, mining, and pharmaceutical sectors, among others. In a step forward, they emphasised the need to actively use the funds of the joint Investment Fund established to support such ventures. Signalling their strategic intentions, a series of agreements and protocols were inked in various fields ranging from energy and sports to culture and youth policy. The establishment of the Supreme Interstate Council was one of the notable accords reached during the summit.
Mirziyoyev's trip wasn't just restricted to high-level talks. He journeyed to the Karabakh region, specifically to the Fizuli region, where he, alongside Azerbaijani President Aliyev, inaugurated the complete secondary school No. 1 named after Mirza Ulugbek — a project initiated by the Uzbek leader (Mirza Ulugbek was the ruler of Timurid empire centred around modern Uzbekistan, himself a mathematician and scholar, as well as grandson of famous ruler Timur).
In Fizuli, Aliyev and Mirziyoyev inspected the under-construction residential complex, set to house numerous displaced individuals. Spanning 8.9 hectares, the complex will boast 846 apartments across 38 buildings, with completion slated for the end of 2023. Mirziyoyev, while addressing the residents of the newly built MIDA residential complex in Fizuli, said "visiting Karabakh was a dream come true" for him. He invited Azerbaijani students to visit Samarkand in Uzbekistan, signifying the deepening of people-to-people connections. Later the two presidents, accompanied by their first ladies, toured the city of Shusha, visiting various landmarks and cultural sites.
Azerbaijan’s banking sector demonstrated strong performance in 2024, with substantial growth in loans, assets and deposits across leading financial institutions. While most banks saw profitability ... more
Uzbekistan plans to export 10-15bn kWh of electricity to Europe by 2030, as announced by Deputy Energy Minister Umid Mamadaminov during the European Economy Days, as ... more
Kazakhstan has dispatched an unprecedented 16.7 cubic kilometres of water to the Caspian Sea via the Zhaiyk River in the year to date, compared to the long-term annual average of 9.46 cubic ... more