Uzbekistan and Azerbaijan to Launch Ferry Production
Tashkent, The Gulf Observer: Uzbekistan and Azerbaijan are planning to establish ferry production to enhance their transport capabilities, according to News Hub Consultants. The two nations are also considering the creation of a joint venture aimed at developing the Trans-Caspian route transport system.
The ferry production initiative, which will cater to Uzbekistan’s transport needs, is expected to be financed with a budget of $150 million. Simultaneously, efforts are underway to develop partnership measures in transport and transit, alongside the formation of warehouse infrastructure.
The announcement follows a business forum held in Tashkent on August 22, where a package of projects totaling $2 billion was approved. Additionally, on August 23, during a meeting between business leaders from both countries, seven projects valued at $520 million were prepared.
Uzbekistan has expressed growing interest in utilizing Azerbaijan’s warehouse infrastructure at the Port of Baku. In 2022, 904,000 tons of cargo were transported through the port, marking a 65% increase from the previous year. This growing collaboration underscores the countries’ commitment to strengthening transport links and boosting economic cooperation in the region.
