Uzbekistan, Azerbaijan target $1 billion in bilateral trade by 2030

Uzbekistan and Azerbaijan are preparing new measures to expand bilateral trade and investment cooperation, including a program aimed at increasing mutual trade turnover to $1 billion by 2030.

According to Uzbekistan’s Ministry of Investment, Industry and Trade, Minister Laziz Kudratov held a meeting with Azerbaijan’s Ambassador Extraordinary and Plenipotentiary to Uzbekistan, Rashad Mammadov.

The sides discussed the current state and development dynamics of bilateral trade and investment cooperation. In 2025, trade turnover between Uzbekistan and Azerbaijan amounted to $307.3 million, representing a 14.6% increase compared with the previous year. In January-June 2026, bilateral trade reached $170.3 million, up 30.8% year-on-year.

"Uzbekistan and Azerbaijan remain committed to further expanding trade and investment cooperation and creating new opportunities for businesses in both countries," the ministry said.

Particular attention was paid to preparing bilateral documents aimed at further developing economic ties. These include a roadmap for implementing existing agreements and a program to increase mutual trade to $1 billion by 2030.

The sides also discussed preparations for the fourth Uzbekistan-Azerbaijan Interregional Forum, which will be held in Tashkent on August 22.

The forum is expected to serve as an important platform for expanding direct contacts between the regions and business communities of Uzbekistan and Azerbaijan and to contribute to the implementation of new trade and investment projects.

Following the talks, the sides outlined further steps to increase bilateral trade, promote investment projects and develop interregional ties.