Operativ Media reports that a short film highlighting friendship, trade, and investment cooperation between Uzbekistan and Azerbaijan was screened first.

President of Uzbekistan Shavkat Mirziyoyev then delivered a speech, saying:

"Dear Ilham Heydar oglu, dear brother. Esteemed participants of the meeting.

I once again sincerely welcome you and the fraternal Azerbaijani delegation to Tashkent. Welcome to Uzbekistan.

Your visit represents a meeting of spiritually close nations bound by shared history, cultural kinship, and mutual respect. Today we open the third meeting of the Supreme Interstate Council. The flawless operation of this mechanism is the finest demonstration of the highest level of allied relations achieved between our countries.

Before proceeding to the agenda, dear Ilham Heydar oglu, I would like to congratulate you on the successful implementation of the far-sighted, profound reform course you are pursuing in Azerbaijan. As brothers and allies, we sincerely rejoice in how dynamically and sustainably Azerbaijan's economy is developing, along with the creation of new sectors and modern infrastructure. All of this leads to a steady improvement in the well-being of the Azerbaijani people. The sovereign policy you resolutely pursue serves to strengthen the country's international standing and advance the agenda of peace and construction in the South Caucasus.

We assess the historic meeting of the leaders of Azerbaijan, Armenia, and the United States in Washington last August and the signing of the Joint Declaration as a brilliant victory of your personal diplomacy. I congratulate you once again and wish you continued great success.

Esteemed participants.

We have elevated our bilateral relations to an entirely historic peak. A testament to this is the signing of the historic Treaty on Eternal Friendship following this summit.

Most importantly, every provision of our strategic partnership and alliance is reflected in tangible, real deeds. Over the past five years, mutual trade has tripled, and the total portfolio of joint projects has surpassed $5 billion. This is by no means the limit. In preparation for the visit, meetings of the Intergovernmental Commission, the Business Council, and the Regions Forum were successfully held, yielding breakthrough initiatives for the implementation of joint projects and programs. Now, the main task of the governments, ministries, and agencies of both countries is to ensure their effective execution. Every time we hold the Interstate Council meeting, Ilham Heydar oglu and I always tell you that we will keep these matters under strict supervision.

I would like to briefly highlight the priority areas of our comprehensive cooperation:

First, it is crucial to maintain close coordination between our foreign policy agencies to advance our shared interests on regional and international platforms. We also agreed to give strong impetus to contacts between our parliaments, governments, ministries, agencies, and regions in a narrow format.

Second, as I just mentioned, our immediate target is to reach the $1 billion trade turnover mark. The program we adopt today, outlining concrete measures to achieve this milestone, will serve as the foundation.

Third, we attach particular importance to deepening industrial cooperation. Our countries' business communities are successfully implementing a number of projects in geology, energy, chemicals, finance, construction, agriculture, and other fields. We will launch new projects during this meeting. We must actively mobilize funds from the joint investment company to support these initiatives. Ilham Heydar oglu and I agreed that we should promptly utilize the $500 million fund and subsequently increase it, as we have gained good joint experience in directing these resources effectively. At today's meeting, we will hear from the co-chairs of the Intergovernmental Commission on their detailed plans to boost trade and deepen cooperation.

Fourth, our transport ministers face major tasks. Within the development of the Middle Corridor, we must accelerate the commissioning of a joint fleet on the Caspian Sea. We are also interested in establishing a dedicated Uzbekistan-Azerbaijan corridor in the Caspian Sea with a single operator.

Fifth, our alliance is built on centuries of shared history and the proximity of the cultural values of two brotherly peoples. It is our duty to carefully preserve and enrich this rich heritage, and to regularly hold mutual Days of Culture on an appropriate scale. Moreover, such events should be held not only in our capitals, but also across our regions. Today we will jointly inaugurate a new building of the Nizami Ganjavi National Pedagogical University and break ground on the construction of the Azerbaijan Park in New Tashkent.

To bring our peoples even closer, we propose creating joint films and a literary bridge between Nizami Ganjavi and Alisher Navoi. This would be a wonderful opportunity for our peoples to draw closer and serve as an example for the youth. We must create a series of such films.

We support holding the second forum of rectors of leading universities of the two countries in Azerbaijan this autumn. Next year, our countries will host a major sporting event—the World Youth Football Championship. In this regard, we should develop a large-scale program titled 'Two Countries – One Championship' to unite our pre-tournament sporting, cultural, and youth events. We also propose establishing the Uzbekistan-Azerbaijan Sports Games, where youth can compete not only in sporting arenas but also in intellectual disciplines. Ilham Heydar oglu, it would be wonderful if we entrusted this to our teams.

Esteemed participants.

Our countries support regional consolidation and strengthening cooperation. It is gratifying that Tashkent and Baku are cementing their roles as key driving forces of interregional integration. Azerbaijan's accession to the Consultative Meetings format has opened new horizons for expanding economic and humanitarian cooperation between the two regions. Through joint efforts, we are effectively shaping a new geoeconomic reality—a unified, self-sufficient macro-region with powerful potential for shared development.

Today we will also discuss other facets of the multifaceted Uzbekistan-Azerbaijan partnership. You should know that we have literally examined every field with a pen in hand. Ilham Heydar oglu and I share a strong mutual desire to implement robust, large-scale projects across all other areas.

Ilham Heydar oglu, I gladly give the floor to you. Please."

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Expressing gratitude to President Shavkat Mirziyoyev for the invitation to visit brotherly Uzbekistan, the hospitality, the warm attitude toward Azerbaijan and its people, and his personal contribution to the development of bilateral relations, President Ilham Aliyev noted that the video screened before the meeting professionally showcased the projects currently underway, some of which have already been realized while others will be implemented. "The main point is that we have a concrete agenda to strengthen our interaction. I am confident that as the already identified projects are implemented, new ones will emerge, and this video presentation will require even more time. In fact, I was very pleasantly surprised by such a presentation, as it reflects the key areas uniting us today."

Commending the friendly relations between the two countries and Uzbekistan's achievements, President Ilham Aliyev said: "First of all, dear Shavkat Miromonovich, I would like to congratulate you and all our brothers in Uzbekistan on the country's development, the strengthening of its potential, and the great successes achieved both in the socio-economic sphere and on the international stage. Today, Uzbekistan is a state with great international authority, and this is primarily your achievement. You work tirelessly and invest great effort into developing the country, strengthening its potential, and enhancing Uzbekistan's role on the international stage. As you rightly noted, we consistently support each other in the bilateral format and across all international organizations we participate in. This happens automatically."

The head of state also thanked Shavkat Mirziyoyev for his appreciation of the positive developments in the South Caucasus, noting that thanks to the establishment of peace in the South Caucasus, the region can finally breathe freely and experience the benefits of peaceful development.

Touching upon the potential of the Joint Investment Fund, the President of Azerbaijan said: "I have been informed that approximately $160 million of the $500 million has already been identified. Naturally, I believe we will soon utilize these funds and define new areas of cooperation. I must also mention that Azerbaijan maintains such cooperation formats with various countries. However, I would say that the Uzbekistan-Azerbaijan Investment Fund is the most effective and results-oriented. Nevertheless, the volume of investments for projects we have planned and already contracted significantly exceeds the size of the fund. It was mentioned in the presentation that $5 billion is planned to be invested in Uzbekistan's tourism sector alone. Furthermore, projects being implemented in Tashkent—hotel and residential complexes—lie outside the scope of this Investment Fund. Therefore, looking at the total investment portfolio, we see that it is much larger than the $500 million we defined."

Expressing gratitude for the support provided in the restoration of Karabakh, President Ilham Aliyev emphasized that Uzbekistan and its head of state were the first country and first president to offer practical assistance to the liberated territories. "The school named after Mirzo Ulugbek has now admitted nearly all the students it can accommodate. The school has a capacity of about 1,000 students, and according to recent reports, several hundred pupils are already studying there; this school is also a symbol of our friendship and brotherhood. In addition, you and I visited the garment factory in Khankendi, which was established in record time by our Uzbek friends. We also met with the staff together in Khankendi. Creating jobs in the Karabakh region—especially for women—is of great importance today. Once again, the first investment project to create a modern manufacturing enterprise and open over 200 jobs is being carried out by Uzbekistan. For this, I am deeply grateful to you," the President of Azerbaijan emphasized.

Recalling that Uzbekistan's experience in the automotive industry is now being transferred to Azerbaijan, the head of state noted that the initial project has been implemented, but a full production cycle is currently underway. An investment of over $80 million is planned in Hajigabul, where a second plant is under construction, which will provide a major boost to the country's automotive sector.

Emphasizing that agricultural development projects are also being successfully executed, President Ilham Aliyev said: "We already have certain achievements in the transport and transit sector. I have been informed that cargo volumes from Uzbekistan transiting through Azerbaijan are increasing. It is also necessary to expedite the construction of ferries for Uzbekistan. Shavkat Miromonovich and I discussed this. The matter is resolved; this project just needs to be placed on the priority list. Currently, about ten vessels of various modifications—ferries, tankers, and dry cargo ships—are being built simultaneously at our shipyard. The shipyard is operating at 100 percent capacity."

Touching upon projects in the transport sector, the head of state noted that active efforts to realize the Zangezur corridor are ongoing. Emphasizing that this project will be completed in the main part of Azerbaijan next year, President Ilham Aliyev noted that relevant work has also begun in the Nakhchivan Autonomous Republic. Pointing out that the conceptual approach is to view the Nakhchivan railway as an integral part of Azerbaijan Railways, the head of state emphasized that an international consortium is planned to be established with the participation of interested companies and countries wishing to invest, generate profits, and secure freight volumes along this route.

"For your information, I would like to state that work is also underway in Armenia, and our American partners regularly keep us updated on this. We have been informed that construction on Armenian territory will begin either late this year or early next year. However, the distance there is only 42 kilometers, whereas in the Nakhchivan Autonomous Republic it is 194 kilometers. Yes, that is why we started work, and we will complete it in any case. But knowing that there is interest from various companies, I would simply like to inform you that if there is interest, there is an opportunity to take part in the proposed consortium," the head of state added.

It was also noted that Azerbaijan is reconstructing and modernizing from scratch a section of the existing railway line covering about 400 kilometers from Baku to the Armenian border, with the Nakhchivan section spanning approximately 200 kilometers. This will serve as a significant branch of the Middle Corridor.

Emphasizing the special role of the President of Uzbekistan in Azerbaijan's inclusion as a full participant in the Consultative Meetings of Central Asian Leaders, the head of state noted the symbolic significance of this decision being made at the meeting in Tashkent and expressed his gratitude. Highly commending the Uzbek leader's personal role in ensuring Azerbaijan's full participation in this format, President Ilham Aliyev stated that Azerbaijan approaches cooperation with Central Asian countries responsibly and with great enthusiasm.