Azerbaijan's total debt amounted to 17.352 billion manats ($10.2 billion) or 21.6 percent of GDP as of July 1.

The financing will help domestic small and medium-sized enterprises (SMEs), which are responsible for at least 56 percent of Uzbekistan’s GDP, invest in green technologies.

The UAE is one of the twenty largest investors in the economy of the ex-Soviet country.

Earlier this month, Fitch Ratings affirmed Azerbaijan's long-term foreign currency Issuer Default Rating (IDR) at 'BB+' with a Stable outlook.

The country produced 1.508 million bpd in September and its quota for October was set at 1.524 million bpd.

A joint statement at the end of the meeting said the two sides remained committed to the agreements reached after the end of last year’s 44-day “second Karabakh war”.