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Azerbaijan and Uzbekistan to establish joint venture for geological exploration

17 July 2026 18:51 (UTC +04:00)

A delegation led by Azerbaijan's Minister of Economy Mikayil Jabbarov paid a working visit to Uzbekistan on July 17, 2026, APA-Economics reports.

As part of the visit, Mikayil Jabbarov, together with Uzbekistan's Minister of Investments, Industry and Trade Laziz Kudratov, participated in the 15th meeting of the Joint Intergovernmental Commission on Cooperation between Azerbaijan and Uzbekistan.

During the meeting, the sides exchanged views on deepening trade and investment partnership in line with the goals set by the heads of state of both countries, establishing new production and value chains between Central Asia and the South Caucasus, developing transport and logistics links within the framework of the Middle Corridor, as well as expanding investment cooperation.

At the end of the meeting, a protocol was signed providing for the strengthening of partnership in priority areas including economy and trade, energy, transport, agriculture, food security, healthcare, environmental protection and other fields. In addition, a Terms of Reference was signed on the establishment of a trilateral joint venture involving AzerGold CJSC, Uzbekgeologorazvedka JSC, and the Azerbaijan-Uzbekistan Investment Company to conduct geological exploration activities.

The Terms of Reference was signed by Chairman of the Board of AzerGold CJSC Zakir Ibrahimov, Executive Director of the Azerbaijan-Uzbekistan Investment Company Nazim Hajiyev, and Chairman of the Board of Uzbekgeologorazvedka JSC Shamsiddin Alimov.

Rahim Tariverdiyev

Azerbaijan Uzbekistan Mikayil Jabbarov Laziz Kudratov Joint Intergovernmental Commission geological exploration joint venture AzerGold Uzbekgeologorazvedka Azerbaijan-Uzbekistan Investment Company Middle Corridor investment trade economy