According to him, in this new phase, the nations have begun integrating their national insurance systems, thereby strengthening the agricultural sector’s resilience and the region’s food security.
The minister also noted that cooperation between Uzbekistan and Azerbaijan has historically been at a high level. "However, we are now expanding it, moving from a common system for managing crops and crop rotation to digitalization, as well as to agricultural financing, insurance systems, payment mechanisms, and subsidies”, the Minister said. “We are particularly proud that Türkiye, Azerbaijan, and Uzbekistan have formed a sort of ‘triangle’ and implemented a crop insurance system. This is a unique model. We are currently integrating the crop insurance systems of the three countries”, he emphasized.
Abdurakhmonov noted that this mechanism is being implemented in Uzbekistan for the first time but could eventually be extended to other countries in the region.
On May 5, a cooperation agreement was signed between the Agricultural Insurance Fund of Azerbaijan and the Agricultural Insurance Fund under the Ministry of Agriculture of Uzbekistan. The document was signed by Fuad Sadigov, Chairman of the Board of the Agricultural Insurance Fund, and Muratjan Achilov, Director of the Agricultural Insurance Fund under the Ministry of Agriculture of Uzbekistan. The agreement aims to apply Azerbaijan’s experience in the field of agricultural insurance in Uzbekistan, including development of the agricultural insurance system, effective risk management, improvement of insurance mechanisms, introduction of innovative insurance products, as well as expansion and strengthening of mutually beneficial cooperation through digitalization of the sector, the source wrote.
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