Tashkent, Uzbekistan (UzDaily.com) — The official visit of the President of Uzbekistan to Baku became an important event, reaffirming the priority of strengthening economic ties between Azerbaijan and Uzbekistan.

During the visit, along with a number of other initiatives, the Azerbaijan-Uzbekistan Investment Company (AUIC) emphasized the need for further deepening of bilateral cooperation.

At present, 280 enterprises with Azerbaijani capital are successfully operating in Uzbekistan. An analysis of the dynamics of Uzbekistan–Azerbaijan foreign trade relations shows ongoing changes in the structure of exports and imports, reflecting the evolving economic priorities of both sides.

During the visit, the heads of state held comprehensive talks on issues of international and regional cooperation, as well as discussed prospects for further collaboration. The parties expressed interest in exchanging experience in the development of free economic zones and in improving tax systems. Special attention was paid to expanding cultural and humanitarian exchanges as an important factor in strengthening bilateral relations and mutual understanding.

The recent adoption in Uzbekistan of a law ratifying the Treaty on Allied Relations with Azerbaijan marked an important step in deepening strategic partnership and creating conditions for mutual development.

In Khiva, the first Uzbekistan–Azerbaijan Inter-Parliamentary Forum took place, where representatives of the parliaments and youth organizations of both countries discussed areas of joint work and new opportunities for cooperation.

The proposals of the delegations fully align with the mission of AUIC — to enhance investment attractiveness and ensure sustainable economic growth in both Uzbekistan and Azerbaijan.

In June, Baku hosted the 14th meeting of the Joint Intergovernmental Commission on Cooperation, where the parties reaffirmed the priority of investment and agreed to expand joint financing of projects within the two countries and the region. AUIC is currently reviewing 15 promising projects in various sectors.

“We are focused on ensuring that companies in Uzbekistan and Azerbaijan have equal access to financing — from US$1 million to US$25 million in direct investments. Our annual plan envisions the implementation of 10–15 investment deals, six of which are scheduled for completion this year. By investing in education, healthcare, and manufacturing, as well as supporting Uzbek entrepreneurs’ entry into the Azerbaijani market and Azerbaijani entrepreneurs’ entry into the Uzbek market, we aim to contribute to building a solid and sustainable foundation for the mutual economic growth of both countries,” noted AUIC CEO Nazim Gadzhiev.

AUIC continues to evaluate new investment opportunities in key sectors, relying on a portfolio of approved projects worth over US$80 million.

In all its investment initiatives, AUIC is guided by the principles of sustainable development, strategic alignment, and long-term impact. The company strives not only for financial returns but also for supporting inclusive regional development, encouraging the adoption of innovations, and ensuring sustainable economic growth in Uzbekistan, Azerbaijan, and the wider region.