BAKU, Azerbaijan, November 11. Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, met with Mohammad Atabak, Iran’s Minister of Industry, Mines, and Trade, to discuss ways to strengthen bilateral trade, implement joint projects, and enhance mutually beneficial partnerships, TurkicWorld reports via MIIT.
The talks focused on cooperation in energy, transport, logistics, pharmaceuticals, and tourism, as well as initiatives to establish joint production and promote products in regional markets.
Officials noted that bilateral trade reached $500 million in 2024. As of September 1, 2025, Uzbekistan hosts 222 enterprises with Iranian investment, operating in construction, transport, and pharmaceuticals.
The meeting was held in a constructive atmosphere and marked a key step toward expanding practical cooperation and deepening economic ties between the two countries.
According to the Iranian Customs Administration (IRICA), trade between Iran and Uzbekistan in the first half of the current Iranian year (from March 21 through September 22, 2025) was estimated at approximately $335 million and 526,000 tons, up 49.7 percent in value and 82 percent in volume year-on-year.
