Uzbekistan is adopting the Azerbaijani model of agroinsurance, as Botir Usmonaliev, a representative of the Ministry of Economy and Finance of Uzbekistan, said during a panel session on "Prospects for the Development of the Agricultural Insurance System: Azerbaijan's Experience, Challenges and International Practice" at the II International Forum of Agricultural Innovations in Baku, Trend reports.

As the representative of the Ministry of Economy and Finance noted, Uzbekistan has been actively developing the agricultural insurance system over the past 2-3 years, which has been effectively operating in Azerbaijan for five years. According to him, agricultural insurance in Uzbekistan was previously carried out on a general basis through commercial insurance companies, but this model did not yield positive results.

"Therefore, on the instructions of the head of our state, we began to study various approaches to agricultural insurance - including in Spain, Turkey and Azerbaijan. Over the past two years, we have been particularly active in cooperating with Turkey and Azerbaijan, studying their model in this area. As a result of this cooperation, a law on agricultural risk insurance was adopted in our country", Botir Usmonaliev explained.

He also added that after adoption of the law, work is underway to form a special fund and develop regulations governing its activities. "Currently, we are moving towards the Azerbaijani model of agroinsurance", concluded the representative of the Ministry of Economy and Finance of Uzbekistan.