"Our trade and economic cooperation have developed rapidly in recent years," President of the Republic of Azerbaijan Ilham Aliyev said in an interview with Uzbekistan National News Agency (UzA), APA reports.
President Ilham Aliyev noted that in 2025, the volume of trade turnover between Azerbaijan and Uzbekistan increased more than threefold compared to the previous year and reached USD 795 million: "This is an excellent indicator. In addition, in January–May 2026, trade turnover grew by 33 percent compared to the same period of the previous year and amounted to USD 144 million.
The Azerbaijan-Uzbekistan Investment Company, established three years ago with a total capital of $500 million, has become an important platform for the development of investment cooperation between our countries. The company makes a significant contribution to the financing and implementation of promising projects in various sectors of the economy in both Azerbaijan and Uzbekistan.
Furthermore, the Intergovernmental Commission plays an important role in developing cooperation in the economic, trade, investment and other spheres. To date, 15 meetings of the Commission have been held. During the most recent meeting in Tashkent, the current state of Azerbaijan-Uzbekistan trade and economic relations, the results achieved and areas with potential for further development were discussed in detail.
Our cooperation in the energy sector is also actively developing. The joint venture Neftegaztexnologiya, established on the basis of the Uzbek institute O'ZLITINEFTGAZ and SOCAR NIPI Neftegas, has been successfully operating in the oil and gas industry since 2016. In addition, the SOCAR–Uzbekneftegaz JSC joint venture Turan Energy AFEZCO, established in 2024, is engaged in exporting to Uzbekistan high-pressure polyethylene produced by Azerikimya Production Union.
Our cooperation in the field of green energy is also continuing. In 2025, the relevant energy agencies of Azerbaijan, Kazakhstan and Uzbekistan established the Green Corridor Union LLC in Baku. This joint venture was created to coordinate the implementation of the Azerbaijan–Central Asia Green Energy Corridor project, the export of renewable energy, and the possibilities of transmitting it across the bottom of the Caspian Sea.
There is also growth in transit transportation between the two countries. In 2025, its volume increased by 6.7 percent and amounted to 1.4 million tons. In January–June of the current year, a 12.2 percent increase was also recorded, with the figure reaching 675,000 tons.
A number of joint projects implemented with the Uzbek side make an important contribution to the further expansion of economic cooperation and the creation of new development opportunities between our countries. In this regard, I would particularly note the establishment of a pomegranate orchard called the “Garden of Friendship,” covering an area of 100 hectares in the liberated Fuzuli district, as well as cooperation in the production of Chevrolet and Isuzu brand vehicles. I should also note that, as of July 13, 2026, a total of 10,720 Chevrolet cars and 275 Isuzu buses had been produced.
Currently, more than 130 commercial entities with Uzbek investments are registered in our country and are successfully operating in various sectors of the economy — industry, agriculture, construction, transport and services. The activities of Uzbek companies in Azerbaijan are an indicator of mutual trust, a favorable investment climate and the strong economic partnership that has been established between our countries.
The economic opportunities offered by Azerbaijan and Uzbekistan complement each other, opening up broad horizons for creating new formats of cooperation. We support more active participation of Azerbaijani companies in Uzbekistan and Uzbek companies in Azerbaijan, as well as an increase in the number of joint production and investment projects.
Azerbaijan is also implementing investment projects in Uzbekistan, including the hotel and residential complex under the Ritz-Carlton brand being built by PASHA Holding in Tashkent, as well as the large tourism and residential complex project “Sea Breeze Uzbekistan” in the Tashkent region.
I am confident that our mutually beneficial economic partnership will continue to develop successfully, expand through new initiatives, and contribute to the well-being of our peoples, serving as one of the important pillars of Azerbaijan-Uzbekistan allied relations."
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
