Uzbekistan and Azerbaijan aim to boost trade to US$1 billion

Tashkent, Uzbekistan (UzDaily.uz) — Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov met with Ambassador of Azerbaijan to Uzbekistan Rashad Mammadov on 19 August 2026 to discuss expanding bilateral trade and investment cooperation, according to the Ministry of Investment, Industry and Trade of Uzbekistan.

Trade turnover between the two countries reached US$307.3 million in 2025, representing a 14.6% increase compared to the previous year. In the first half of 2026, bilateral trade reached US$170.3 million, marking a 30.8% year-on-year increase.

During the talks, the parties focused on drafting bilateral documents aimed at advancing trade and investment interaction, including a roadmap to implement previously reached agreements. The two sides also reviewed a targeted program to increase mutual trade turnover to US$1 billion by 2030.

Organizational preparations for the 4th Uzbekistan-Azerbaijan Interregional Forum were also addressed. Scheduled to take place on 22 August 2026 in Tashkent, the event aims to expand direct contacts between regional authorities and business representatives from both nations.

Following the meeting, the two sides outlined further measures to boost mutual trade volumes, advance investment projects, and deepen interregional ties.