Azerbaijan, Uzbekistan to boost trade turnover to $1 billion annually, Mirziyoyev says

Uzbekistan and Azerbaijan have set an ambitious target to increase their bilateral trade turnover to one billion dollars per year, President of Uzbekistan Shavkat Mirziyoyev announced following a high-level meeting in Baku.

The announcement came during a joint session of the High Interstate Council between the two countries, held on July 2 alongside a meeting between President Mirziyoyev and Azerbaijani President Ilham Aliyev.

According to the press service of the Uzbek president, as reported by Caliber.Az, the two leaders discussed the deepening of strategic partnership and expanding practical cooperation across multiple sectors, including industry, energy, transport, agriculture, tourism, and banking.

"Never in history have our relations been at such a high level as they are today," noted the leader of Uzbekistan.

He emphasised the special significance of the visit, timed to coincide with the 30th anniversary of the establishment of diplomatic relations between the two countries.

Following the talks, significant progress was noted in trade and economic cooperation: the trade turnover between the countries has increased by 25%. Currently, around 300 joint ventures operate in Azerbaijan and Uzbekistan. The parties explored opportunities to raise the volume of trade turnover and investments to $1 billion per year.

The leaders of the two countries expressed support for new forms of cooperation, such as the Council of Entrepreneurs and the Forum of Industrial and Economic Zones. They also endorsed the idea of expanding the activities of the joint investment company.

The presidents of the two countries highlighted transport cooperation and their participation in the development of the Middle Corridor. It was especially noted that the transportation of Uzbek cargo along this route has increased by 25% — to more than 1 million tonnes. Since March 2025, both sides have switched to electronic permits for cargo transportation.

Plans for exporting Uzbek electricity to Europe were also discussed, and cultural events were agreed upon to celebrate the 30th anniversary of diplomatic relations.

The heads of state also exchanged views on international and regional agendas.

At the conclusion of the meeting, it was decided to adopt a “roadmap” for the timely and efficient implementation of the agreements reached.

By Vugar Khalilov