Uzbekistan and Azerbaijan triple trade volume, set $1 billion goal

Trade between Uzbekistan and Azerbaijan has surged threefold over the past five years, according to Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry, and Trade.

Kudratov made this announcement at the Uzbek-Azerbaijani business forum, which commenced today in Tashkent, Caliber.Az reports citing local media.

“Mutual trade has risen by 20 per cent since the beginning of this year. Although the absolute figures remain modest, we are targeting a $1 billion trade volume within the next two years,” Kudratov stated.

The forum, which marks the beginning of a two-day event in Tashkent, features prominent speakers including Azerbaijani Economy Minister Mikail Jabbarov and Uzbek Minister Laziz Kudratov. Azerbaijan is represented at the forum by 67 companies and approximately 10 state organizations.

As part of the forum, an exhibition titled "Main Directions of Economy - A Step Towards Joint Prosperity" will showcase Azerbaijani products.

The event aims to bolster economic ties between Uzbekistan and Azerbaijan, enhance cooperation, attract investment, and facilitate joint projects.