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.
