Azerbaijan, Uzbekistan aim to increase trade turnover to $1 billion

Senior Specialist at the Azerbaijani Centre of Analysis of International Relations Shahmar Hajiyev has said that Azerbaijan and Uzbekistan plan to increase their mutual trade volume to $1 billion.

Hajiyev made these remarks during the online conference titled "Uzbekistan and Azerbaijan: New Prospects for Mutually Beneficial Cooperation". 

"Azerbaijan and Uzbekistan have increased their trade volume by 28 per cent this year. The parties aim to raise the trade turnover to $1 billion," Hajiyev told Caliber.Az.

According to data from Azerbaijan’s State Customs Committee, the trade turnover between Azerbaijan and Uzbekistan reached $118.28 million for January-July 2024, reflecting a 28 per cent increase compared to the same period last year.

Azerbaijan's exports to Uzbekistan totaled $18.60 million (a decrease of 30.3 per cent), while imports amounted to $99.68 million (an increase of 51.7 per cent).