Azerbaijan, Uzbekistan plan to export cars produced by joint venture – minister

Cars produced by the joint venture of Azerbaijan and Uzbekistan, along with sales on the domestic market, are planned to be exported, Deputy Minister of Economy of Azerbaijan Sahib Mammadov said during the groundbreaking ceremony of the joint car production of Azerbaijan and Uzbekistan, Trend reports.

The deputy minister said that a number of agreements were signed during the visit of Azerbaijani President Ilham Aliyev to Uzbekistan.

"In particular, an agreement on cooperation in the field of industry was signed. As a result, today we have achieved the first successful goal of developing bilateral relations between Azerbaijan and Uzbekistan. I believe that this project will strengthen the economy not only of Azerbaijan, but also create a favorable climate for the region as a whole," Mammadov said.

He also said that the creation of the plant will provide additional 1,200 jobs.

"Within the framework of this project, after its launch, it is expected to produce 30,000 cars per year. The sale of these cars is planned to be carried out both in the domestic market of Azerbaijan and in foreign markets," the minister said.

The joint car plant of Azerbaijan and Uzbekistan is expected to be launched in May 2025. The investment value of the plant will amount to 88 million manat ($51.7 million).

The facility will use technologies from countries such as the US, Italy, China, Korea and Uzbekistan, and is expected to produce such Chevrolet car brands as Cobalt, Malibu, Tracker and Equinox.

The Hajigabul Industrial District was established by the Decree of the President of the Republic of Azerbaijan No. 3127 dated July 25, 2017 "On the establishment of the Hajigabul Industrial District". Its territory is 60 hectares, about 500 jobs have been created, and the amount of investments exceeds 51 million manat ($30 million). The number of residents of the industrial district is 13.

Source: Trend News Agency