The Center for Economic Research and Reforms (CERR) has conducted an analysis of trade and economic cooperation between Uzbekistan and Azerbaijan over the past eight years, as well as assessed the potential for further development in this area.
In recent years, trade, economic, and investment cooperation between Uzbekistan and Azerbaijan has been developing dynamically, reflecting the strategic nature of bilateral relations.
Over the past eight years, the volume of mutual trade has increased 7.8 times, reaching $253 million in 2024. Uzbekistan's exports to Azerbaijan grew 7.5 times to $208 million, while imports increased ninefold to $45 million last year.
In 2024, the main export items included machinery and transport equipment — $61 million (29% of total exports), agricultural and food products — $33 million (16%, including $19 million in fruits and vegetables), textiles and apparel — $32 million (15%), metals and metal products — $32 million (15%, including $24 million in copper), and tobacco products — $20 million (10%).
Uzbekistan imported $22 million worth of agricultural and food products from Azerbaijan in 2024 (48% of total imports, including $14 million in sugar), aluminum — $8 million (18%), and equipment — $4.6 million (10%).
Particular attention is being paid to investment collaboration. The two sides are implementing joint projects in industry, agriculture, energy, and pharmaceuticals. While only $142,000 was attracted from Azerbaijan in 2017, this figure rose to $79.5 million in 2024. The Azerbaijan-Uzbekistan Investment Company, with an authorized capital of $500 million, is currently operating.
Regular intergovernmental meetings and business forums contribute to deepening the partnership, fostering a favorable investment climate, and strengthening business ties between entrepreneurs from both countries. In particular, the number of enterprises in Uzbekistan with Azerbaijani capital increased from 178 in 2019 to 278 as of April 2025.
An important area of cooperation is the development of transport and logistics corridors, including the use of the Trans-Caspian route, which promotes regional integration and provides Uzbekistan with greater access to global markets.
CERR Public Relations Sector
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