Azerbaijan Prepares for COP29: A Critical National Agenda for Energy Transition and Climate Finance

The Uzbekistan-Azerbaijan Business Forum, held in Tashkent today, underscored the growing economic partnership between the two countries, drawing around 300 entrepreneurs from diverse sectors, including construction, agriculture, automotive, and tourism. The event, supported by the Ministry of Investment, Industry, and Trade of Uzbekistan, the Ministry of Economy of Azerbaijan, the Export and Investment Promotion Agency (AZPROMO), and the Uzbekistan Foreign Investment Attraction Agency, was marked by significant speeches and bilateral discussions.

The Cabinet of Ministers of the Republic of Azerbaijan has announced the transfer of various medical institutions, previously under the control of the Closed Joint Stock Company (CJSC) "Azerbaijan Railways," to relevant state bodies. This decision, made as part of the country's ongoing efforts to reform the management of state assets, aligns with the broader objectives outlined in the "State Program for Improving the Management of State Property," approved by a presidential decree in 2007.

Uzbekistan and Azerbaijan have entered a new phase of strategic cooperation, emphasizing the comprehensive development of bilateral relations as a key foreign policy priority. Milana Bazarova, Head of the Department of the Institute for Strategic and Interregional Studies under the President of Uzbekistan, highlights this deepening partnership, noting that 2024 marks the year of intensive development of multifaceted ties between the two countries. The initiative, led by Uzbekistan’s President Shavkat Mirziyoyev, has resulted in expanded cooperation across a wide range of sectors.

Baku's trade turnover registered a noticeable increase of 4.4 percent in the first seven months of 2024 compared to the same period last year, reaching a total value of 18,744.9 million manats. This growth underscores the resilience of the city's retail sector.