Uzbekistan and Azerbaijan are deepening their economic and political ties, with joint ventures increasing fivefold and trade turnover tripling in just five years, signaling a new strategic phase in bilateral cooperation.
According to Uzbekistan’s ambassador to Azerbaijan, Bahrom Ashrafkhanov, the number of joint ventures between the two countries has grown fivefold, highlighting a rapid expansion in economic collaboration. Speaking at the second session of the Azerbaijan-Uzbek expert council, he noted that Uzbekistan now hosts 540 companies with Azerbaijani capital, while about 70 Uzbek enterprises operate in Azerbaijan. Key projects include automotive production, textile and silk-growing clusters, as well as gypsum board and jewelry manufacturing.
Trade turnover has reached $255 million—three times the volume of five years ago—with the aim to boost it to $1 billion. A 20-point cooperation program has been adopted, focusing on green energy exports to Europe via Azerbaijan and the development of strategic transport corridors.
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