Baku, Tashkent agree to set up joint investment fund in 2022 - Mirziyoyev

BAKU. June 22 (Interfax) - Baku and Tashkent have agreed to set up a joint investment fund in 2022, Uzbek President Shavkat Mirziyoyev said on Tuesday.

"We will highlight cooperation projects. We have successfully launched the production of cars in Hajigabul in Azerbaijan, and we are developing cooperation in sericulture. We have also agreed to scale up car production. Now we are working on dozens of new projects in the fields of mining, petro-chemistry, pharmaceutics, and production of building materials, textiles, foods and jewelry. We have agreed to set up a joint investment fund to this end this year," Mirziyoyev said at a press briefing in Tashkent, following talks with Azerbaijani President Ilham Aliyev.

The joint intergovernmental commission has been tasked with adopting an industrial cooperation program, he said.

The sides have agreed that their presidents will be monthly checking on progress in the fulfillment of the bilateral agreements, Mirziyoyev said. "For that reason, the intergovernmental commission co-chairs will be exchanging views every month. We have agreed that the co-chairs will be meeting once a month at the initial stage to assess the situation and the achievement of targets," he said.

Uzbekistan and Azerbaijan "are truly bringing their relations to a new level," Mirziyoyev said.

"We seek to achieve tangible results and want people in both countries to feel it," he said.