The signing of an agreement between the state oil companies of Azerbaijan and Uzbekistan became an important step in strengthening the energy partnership between these countries, Uzbek expert and economist Ulugbek Kamaletdinov.
“The document signed between Uzbekneftegaz JSC and SOCAR, in my opinion, is the first but important step in strengthening the energy partnership between the countries. Both countries have decent experience in exploration, production, processing and transportation of energy resources,” he said.
The expert stressed that cooperation in the field of petrochemicals will further deepen the Azerbaijani-Uzbek relations in the energy sector.
“The introduction of modern technologies in the field of petrochemicals and the availability of high-quality raw materials could create a significant large-scale effect on the economy. This industry has a significant impact on the development of the production of synthetic fibers, primarily acrylic, sintepon materials, dyes and the entire range of paint and varnish products, polyethylene, PVC, construction materials and other products,” Kamaletdinov said.
In his opinion, both countries have significant competitive advantages for expanding the share of energy sector products in new markets, and strengthening bilateral ties will contribute to the successful development of these promising markets.
“If Uzbekistan has good transit opportunities for the export of Azerbaijani energy products to the countries of Central Asia and China, Azerbaijan is the shortest route for our products to the EU countries and Türkiye,” the expert added.
https://report.az/en/energy/expert-agreement-between-socar-uzbekneftegaz-important-step-in-strengthening-energy-partnership/