Trade turnover between Azerbaijan and Uzbekistan has tripled over the past five years, while the total portfolio of joint projects has exceeded $5 billion.

Axar.az informs, citing Rеport, that Azerbaijani Deputy Prime Minister Shahin Mustafayev said at an event in Baku marking the 35th anniversary of Uzbekistan's Independence Day.

"If we look at the pace of development of our economic relations, bilateral trade has tripled over the past five years, while the total portfolio of joint projects has exceeded $5 billion," he said.

Mustafayev noted that relations between Azerbaijan and Uzbekistan have in recent years reached their highest level, taking on the character of strategic partnership, alliance and eternal friendship.

He said the high-level political dialogue, mutual trust and close friendship between Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev have played a decisive role in the rapid development of bilateral ties and their transition to a qualitatively new stage.

Mustafayev also described President Ilham Aliyev's state visit to Uzbekistan on August 23-24 as another important milestone in the history of Azerbaijan-Uzbekistan relations.

During the visit, the third meeting of the Supreme Interstate Council of Azerbaijan and Uzbekistan was held, with the sides reviewing all major areas of bilateral relations and setting new targets for future cooperation.

Mustafayev said the most important and historic outcome of the visit was the signing of the Treaty on Eternal Friendship between Azerbaijan and Uzbekistan.

According to him, the document is aimed at further strengthening strategic partnership and allied relations between the two countries and ensuring the long-term and sustainable development of cooperation.