"We have also agreed that a joint investment fund would be created to promote the projects, President of the Republic of Uzbekistan Shavkat Mirziyoyev said during the meeting in an expanded format with President of the Republic of Azerbaijan Ilham Aliyev, News.az reports.

"On the eve of our meeting, a fruitful business forum was held, a package of investment agreements and trade contracts worth over half a billion dollars was signed. These include promising projects in the oil and gas, petrochemical industries, energy, pharmaceuticals, building materials, wine, food, textiles, and jewelry. There are opportunities to implement projects on the basis of the Alat Free Economic Zone with subsequent entry into the EU markets.

We have also agreed that a joint investment fund would be created to promote the projects, and a meeting of the intergovernmental commission would be held next month to take policy measures to accelerate decisions," the president said.