Georgia, Uzbekistan set ambitious $1 billion trade target

Uzbek Prime Minister Abdulla Aripov and Georgian Prime Minister Irakli Kobakhidze have met to discuss ambitious plans to significantly increase trade between the two nations, targeting a turnover of $1 billion in the coming years.

Currently, trade between the two countries is far below this goal, and the proposed increase would nearly triple the current level of bilateral trade, Caliber.Az reports citing Uzbek government.

To achieve this target, both governments have identified key sectors for collaboration, including textiles, leather goods, electrical equipment, metals, chemicals, construction materials, and food products.

The focus on these sectors is expected to strengthen economic ties and open new avenues for mutual growth. As both nations aim to enhance their trade relations, this ambitious target reflects the growing recognition of the potential for deeper economic cooperation between Georgia and Uzbekistan.

In 2024, trade turnover between the two countries increased by 50 per cent, with the number of joint enterprises also rising. A key area of focus was the development of a digital bank with the participation of Georgian investors.

Both governments are committed to leveraging transit opportunities and increasing cooperation between regions. The expansion of partnerships in digitalisation and tourism is also under consideration.

Beyond trade, both countries expressed interest in strengthening collaboration in education, tourism, and agriculture. Enhancing economic ties through investment and joint projects remains a priority.

The governments will continue discussions to implement measures that support economic integration and long-term cooperation.

By Vafa Guliyeva