"The dynamic nature of trade and economic collaboration is quite reassuring and helps to elevate its level. Both sides are making significant efforts to expand mutual cooperation, initiating new projects and putting a particular emphasis on the implementation of joint initiatives," President of the Republic of Azerbaijan Ilham Aliyev said in an interview with Uzbekistan National News Agency (UzA), APA reports.
According to the head of state for the time being, almost 120 commercial organizations with Uzbek investment are registered in Azerbaijan, successfully operating in various sectors of the economy: industry, agriculture, construction, transportation, and services: "Trade between Azerbaijan and Uzbekistan is growing at rapid pace. In 2024, trade turnover amounted to $252 million, and in the period from January to September 2025, this figure increased by 87.5 percent compared to the same period of last year, reaching $319 million.
Investment cooperation also continues to ramp up. In 2023, a joint Azerbaijan-Uzbekistan Investment Company was established with a total capital of $500 million, envisaging investments both within our own countries and in third countries."
The President of Azerbaijan noted that a joint venture, a garment factory in Khankendi, deserves special attention, as it opens up new possibilities for developing the light industry and strengthening traditional friendly and fraternal relations: "It is worth to note in particular the active work done by the Intergovernmental Commission on Cooperation between the Republic of Azerbaijan and the Republic of Uzbekistan to develop economic ties and identify promising areas of interaction. The Azerbaijan-Uzbekistan Regional Forum, which has already become a regular event, provides an effective platform for advancing cooperation in this area.
Azerbaijan is interested in further expanding cooperation with brotherly Uzbekistan across all economic sectors. There is strong political will and significant potential for this. To date, almost 200 documents have been signed, creating a reliable legal framework for further development of our economic relations. Azerbaijan will continue to support mutually beneficial cooperation that meets the interests of both sides and contributes to strengthening the friendship and partnership between our peoples."
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