Prospects for Economic Cooperation: A Perspective from Think Tanks in Uzbekistan and Azerbaijan

In particular, at the session of the High Interstate Council, the importance of providing information and analytical support to develop bilateral relations was emphasized. In this regard, it was proposed to engage one of the leading economic analysis centers to support joint initiatives.

In September, a CERR delegation visited Azerbaijan, where they held over 20 meetings with representatives of government agencies, special economic zones, and business circles. Following this visit, the Center prepared a comparative analysis of 18 key economic sectors, which served as the foundation for further discussion and prioritizing areas of cooperation.

Continuing the bilateral cooperation, a reciprocal visit of the Azerbaijani delegation to Uzbekistan was organized, with representatives from the Ministry of Economy and research circles. The Azerbaijani delegation held meetings in key ministries and agencies of Uzbekistan, as well as at higher educational institutions.

The roundtable was opened with welcoming remarks by Obid Khakimov, Director of the Center for Economic Research and Reforms, and Shahin Sadygov, Chairman of the Board of the Economic Research Institute of the Ministry of Economy of the Republic of Azerbaijan and head of the Azerbaijani delegation.

The roundtable included participants from the Ministry of Economy of the Republic of Azerbaijan, UNEC State Economic University, AZEXPORT portal, Center for Analysis of Economic Reforms and Communication, and AZPROMO Agency.

On the Uzbek side, experts from the Center for Economic Research and Reforms, as well as representatives from ministries including Transport, Higher Education, Science and Innovation, Economy and Finance, Agriculture, Investments, Industry and Trade, Digital Technologies, and others, participated.

Infographics: Trade and investment cooperation between Uzbekistan and Azerbaijan

The main goal of the event was to discuss the integration of knowledge and analyze the economic development opportunities of Uzbekistan and Azerbaijan. Participants reviewed key aspects of economic cooperation and created a platform for exchanging views among experts and think tanks to deepen scientific dialogue and joint initiatives.

A CERR comparative analysis of key economic sectors was presented to the roundtable participants, providing a basis for further prioritizing areas of cooperation.

It was noted that Uzbekistan and Azerbaijan are focused on identifying and implementing promising projects in high-value-added manufacturing sectors, including the creation of joint ventures for new hydrocarbon-based products such as synthetic fabrics and carbon fiber, as well as the production of chemical products in demand in both markets, which will contribute to economic development and strengthen bilateral relations.

Within the framework of industrial cooperation, both countries are interested in establishing export-oriented, high-value-added industries, including the production of electric vehicles and infrastructure for electric transport, as well as the development of the jewelry sector through the involvement of Azerbaijani artisans and the organization of jewelry fairs, opening new opportunities for mutually beneficial cooperation.

The Azerbaijani side also underscored Uzbekistan's experience in transforming and developing economic sectors, particularly manufacturing, which holds special value for Azerbaijan as it actively strives to diversify its economy and develop its non-oil sector, as highlighted by the head of the Azerbaijani delegation.

As a result of the event, a Memorandum of Understanding was signed between the Economic Research Institute of the Ministry of Economy of the Republic of Azerbaijan and the Center for Economic Research and Reforms under the Administration of the President of the Republic of Uzbekistan.

Collaboration within the framework of this memorandum will be a significant step toward strengthening scientific exchange between Azerbaijan and Uzbekistan in the fields of economics and education, contributing to the further development and integration of both countries on the international stage.

In conclusion, gratitude was expressed for the warm reception, along with congratulations on Victory Day and the liberation of the occupied territories, celebrated in Azerbaijan on November 8. The important role of Uzbekistan in the restoration of Karabakh was emphasized, reflecting the strong ties and mutual support between the countries.

With that, the visit of the delegation from the Republic of Azerbaijan to the Republic of Uzbekistan concluded.

CERR Public Relations Sector