Uzbekistan and Azerbaijan are collaborating to create a $10 billion investment package aimed at launching joint projects between businesses and enterprises of both countries, according to Uzbekistan's Ambassador to Azerbaijan, Bakhrom Ashrafkhanov.

The diplomat said efforts are already underway to structure the investment package for joint projects involving Uzbek and Azerbaijani companies, while parallel work is being carried out to increase bilateral trade turnover to $1 billion, The Caspian Post reports, citing local media.

According to the ambassador, cooperation between the two countries is being developed within the framework of a roadmap that includes a wide range of activities and coordinated initiatives.

These include regular consultations between foreign policy agencies, preparations for meetings of the Supreme Interstate Council, and the organization of sector-specific events such as business forums, interregional forums, consultations in the healthcare sector, and meetings of the scientific community.