$1 billion: Uzbekistan and Azerbaijan agree on trade growth
Economy
Uzbekistan and Azerbaijan agreed to increase trade turnover to $1 billion by 2030. The agreement was reached at the 14th meeting of the Joint Intergovernmental Commission on Cooperation held in Baku.
The delegation of Uzbekistan was headed by the Minister of Investments, Industry and Trade Laziz Kudratov, and the delegation of Azerbaijan was headed by the Minister of Economy Mikail Jabbarov.
Since the beginning of 2025, trade turnover between the countries has grown by 40% and exceeded $200 million. To achieve the target indicator, the parties plan to expand trade, industrial cooperation, and mutual investments.
As part of the cooperation between the "Uzavtosanoat" and "Azermash" companies, the production of Chevrolet cars has been established in the Hajigabul Industrial Park. About 8900 cars have already been produced. A second factory is being built. The Azerbaijan-Uzbekistan Investment Company is financing 15 projects worth over $360 million.
A joint action plan to increase trade volume, a cooperation plan for 2025-2026, and a schedule of trade missions were signed. An Entrepreneurs Council is also being established to facilitate direct interaction between businesses of the two countries.
As part of the visit, Laziz Kudratov met with Azerbaijani President Ilham Aliyev. At the beginning of July, the visit of the President of Uzbekistan Shavkat Mirziyoyev to Baku is expected.
Since the beginning of 2025, trade turnover between the countries has grown by 40% and exceeded $200 million. To achieve the target indicator, the parties plan to expand trade, industrial cooperation, and mutual investments.
As part of the cooperation between the "Uzavtosanoat" and "Azermash" companies, the production of Chevrolet cars has been established in the Hajigabul Industrial Park. About 8900 cars have already been produced. A second factory is being built. The Azerbaijan-Uzbekistan Investment Company is financing 15 projects worth over $360 million.
A joint action plan to increase trade volume, a cooperation plan for 2025-2026, and a schedule of trade missions were signed. An Entrepreneurs Council is also being established to facilitate direct interaction between businesses of the two countries.
As part of the visit, Laziz Kudratov met with Azerbaijani President Ilham Aliyev. At the beginning of July, the visit of the President of Uzbekistan Shavkat Mirziyoyev to Baku is expected.
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