Uzbekistan eyes new cooperation prospects with Azerbaijan in small, medium business development

Uzbekistan is exploring new avenues of cooperation with Azerbaijan in the development of small and medium-sized enterprises (SMEs), said Timur Khusanov, Director of the Department for Analysis, Support, and Coordination of State Policy for the Development of Small and Medium-Sized Businesses under the Uzbek Ministry of Economy and Finance.

Speaking to journalists on the sidelines of a seminar in Baku on the presentation of the Asian Development Bank (ADB) report Asia SME Monitor 2025, Khusanov highlighted that Uzbekistan, with the support of the ADB and other international financial institutions, has formulated a Strategy for SME Development until 2030, Caliber.Az reports per local media.

“The ADB provided us with direct assistance. As part of this work, several major roundtable discussions were held with the participation of representatives from the ADB, the World Bank, international financial institutions operating in Uzbekistan, and various development organizations,” Khusanov said.

He emphasized that one of the key priorities of the national strategy is to facilitate SME access to foreign markets.

“This process is generally bilateral in nature. In this context, Azerbaijan is a brotherly nation for us, with whom we share a close mentality and long-standing economic ties. Therefore, we see great importance in expanding cooperation in this sphere,” he noted.

Khusanov added that the strategy aims not only to stimulate SME growth within Uzbekistan but also to introduce supportive measures that will help rapidly growing enterprises successfully enter international markets.

By Vafa Guliyeva