Heads of Terms for the establishment of tripartite joint venture signed for geological exploration between Azerbaijan and Uzbekistan

On 17 July 2026, a delegation led by Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan, paid a working visit to Uzbekistan. As part of the visit, Mikayil Jabbarov, together with Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, participated in the 15th Meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission on Cooperation.

During the meeting, views were exchanged on deepening trade and investment partnership in line with the objectives 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, and expanding investment cooperation.

At the conclusion of the meeting, a protocol providing for strengthened cooperation in priority areas, including economic and trade relations, energy, transport, agriculture, food security, healthcare, environmental protection, and other fields, was signed. In addition, Heads of Terms were signed for the establishment of a tripartite joint venture involving “AzerGold” CJSC, “Uzbekgeologorazvedka” JSC, and the Azerbaijan-Uzbekistan Investment Company to conduct geological exploration activities.

The Heads of Terms were signed by Zakir Ibrahimov, Chairman of the Executive Board of “AzerGold” CJSC; Nazim Hajiyev, Chief Executive Officer of the Azerbaijan-Uzbekistan Investment Company; and Shamsiddin Alimov, Chairman of the Executive Board of “Uzbekgeologorazvedka” JSC.