BAKU, Azerbaijan, August 20. Uzbekistan and
Azerbaijan are preparing new measures to expand bilateral trade and
investment, including a program aimed at increasing trade volume to
$1 billion by 2030.
This was reflected in the statement by the Uzbek Ministry of
Investment, Industry and Trade, following a meeting between
Minister Laziz Kudratov and Rashad Mammadov, the Extraordinary and
Plenipotentiary Ambassador of the Republic of Azerbaijan to
Uzbekistan.
According to the ministry, in the course of the meeting, the
sides reviewed the dynamics of bilateral trade and investment
cooperation. Trade turnover between Uzbekistan and Azerbaijan
reached $307.3 million in 2025, up 14.6% from a year earlier. In
January-June 2026, bilateral trade totaled $170.3 million, an
increase of 30.8% year over year.
“Uzbekistan and Azerbaijan are committed to further expanding
trade and investment cooperation and creating new opportunities for
businesses in both countries,” the ministry said.
Particular attention was given to preparations for bilateral
documents designed to support the expansion of economic ties. These
include a Roadmap for implementing previously reached agreements
and a program targeting an increase in mutual trade to $1 billion
by 2030.
The sides also discussed preparations for the 4th
Uzbekistan-Azerbaijan Interregional Forum, scheduled to take place
in Tashkent on August 22.
The forum is expected to provide a platform for expanding direct
contacts between the regions and business communities of Uzbekistan
and Azerbaijan, potentially supporting new trade and investment
projects.
The meeting also focused on measures to promote investment
initiatives and strengthen cooperation at the regional level.
Following the talks, the sides identified further steps aimed at
increasing bilateral trade, advancing investment projects, and
expanding interregional cooperation.
The latest talks are taking place against the backdrop of
Uzbekistan and Azerbaijan’s efforts to consolidate the growth in
bilateral trade and deepen economic ties by expanding cooperation
between businesses and at the regional level.
