Azerbaijan and Uzbekistan have a combined unrealised export potential of more than $1.15 billion, providing a basis for increasing bilateral trade to the target of $1 billion, Mirshohid Aslanov, CEO and co-founder of Uzbekistan’s Centre for Progressive Reforms, said.
Speaking at the presentation of the Azerbaijan-Uzbekistan Business Barometer, Aslanov said a study by the Centre for Progressive Reforms and CASPIA, based on ITC Trade Map data, identified significant opportunities to expand mutual supplies across more than 43 commodity categories, Caliber.Az reports per local media.
Azerbaijan’s unrealised export potential in Uzbekistan is estimated at around $650 million across 22 key products. The largest opportunities include polypropylene worth $126 million, hazelnuts at $65 million, polyethene at $55 million, aluminium at $47 million and mineral water at $40 million.
Other promising Azerbaijani exports include cigarettes ($35 million), apples and pears ($34 million), sugar ($29 million), potatoes ($28 million), aluminium sheets ($23 million), steel bars and butter ($21 million each), and corks and caps ($16 million).
Uzbekistan, meanwhile, has an estimated $500 million in unrealised export potential in Azerbaijan across 21 product categories.
The largest opportunities for Uzbek suppliers include polyethene worth $83 million, mineral water at $65 million, knitted T-shirts ($35 million), nitrogen fertilisers ($29 million), and ceramic tiles and vehicle bodies at $24 million each.
Other potential Uzbek exports include aluminium profiles and dried nuts ($23 million each), building stone ($20 million), knitted fabrics ($16 million), and non-woven materials and engines ($13 million each).
By Sabina Mammadli
