Baku, Tashkent bolster economic ties with joint projects worth $700 million Textiles, Aluminium, Cotton...

Azerbaijan and Tajikistan are conducting a technical and economic assessment of several projects worth a total of $700 million, which were signed during the Azerbaijan-Tajikistan Business Forum held in Baku in May 2024.

The update was confirmed by Tajikistan’s Ministry of Economic Development and Trade, which highlighted that the two countries are actively cooperating on advancing these projects and are aiming for their swift implementation, Caliber.Az reports, citing local media.

Among the projects are: an agreement between the Azerbaijan Industrial Corporation and Tajik partners to boost mutual trade, establish textile enterprises, develop refined oil production, cultivate land for cotton growing, and process cotton seeds; a memorandum of understanding between Tajik Aluminium Company (TALCO) and Azeraluminium OJSC; agreements between Tajagropromexport and the Azerbaijan Industrial Corporation; as well as other initiatives in the textile and cotton industries.

“We are actively cooperating with Azerbaijan on the implementation of these projects and hope to expedite their execution,” the ministry emphasised.

Tajikistan and Azerbaijan also plan to establish joint ventures for the production of alumina and anode blocks.

“Alumina supplies represent a new area of cooperation. Furthermore, we consider the export of anode blocks from Tajikistan to Azerbaijan a priority. Both sides have the necessary capacity and expect to sign new agreements in the near future,” the ministry noted.

For the record, during the sixth meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation in 2023, the two countries discussed possible Azerbaijani participation in financing the modernisation of the TALCO plant. The talks also covered supplies from Tajikistan to Azerbaijan, including aluminium, cryolite, and aluminium fluoride, as well as the export of alumina from Azerbaijan to Tajikistan.

According to Azerbaijan’s State Customs Committee, trade turnover between the two countries reached $6.54 million from January through May 2025, marking a 2.3-fold increase compared to the same period last year. Azerbaijan's exports to Tajikistan amounted to $6 million, while imports totalled $534,000.

By Khagan Isayev