Shavkat Mirziyoyev approved an agreement on the establishment of an investment fund with Azerbaijan

President Shavkat Mirziyoyev approved an international agreement with Azerbaijan on the establishment of an investment fund, Spot reports. The document was published on Lex.uz.

According to the resolution, the Ministry of Investment, Industry and Trade (MIIT) has been appointed the responsible body for the implementation of this document.

The head of MIIT and the executive director of the Fund for Reconstruction and Development Shukhrat Vafayev will join the board of directors of the Uzbek-Azerbaijani investment fund.

The share of Uzbekistan in the capital of the fund will be financed from the funds of the Fund for Reconstruction and Development. Within two months, the MIIT was instructed to amend the law on the state budget of the country for the current year.

On February 24, at a bilateral interregional forum in Tashkent, the parties signed an agreement on the establishment of a joint investment fund with an authorized capital of $500 million to finance joint projects. In addition, at the same forum, Uzbekistan and Azerbaijan agreed to increase the trade turnover to $1 billion. For this, in particular, it is planned to increase mutual supplies of demanded products and create platforms for direct business contacts.