The Center for Economic Research and Reforms (CERR) has conducted an analysis of trade, economic and investment cooperation between Uzbekistan and Azerbaijan over the past nine years.
Cooperation between Uzbekistan and Azerbaijan has intensified significantly in recent years and has reached the highest level of interstate engagement, namely a strategic partnership and allied relations.
The Supreme Interstate Council, chaired by the Presidents of the two countries, has been established and serves as an effective mechanism for advancing multifaceted cooperation between Uzbekistan and Azerbaijan.
Trade between Uzbekistan and Azerbaijan is conducted under a free trade regime. During 2017–2025, bilateral trade turnover increased 9.5-fold, rising from $32.5 mln to $307.3 mln. Over the same period, Uzbekistan’s exports to Azerbaijan grew 8.2-fold, from $27.6 mln to $227.3 mln, while imports increased 16.3-fold, from $4.9 mln to $80.0 mln.
In 2025, Uzbekistan’s exports to Azerbaijan totaled $227.3 mln, including manufactured goods worth $63.4 mln (28% of total exports), machinery and transport equipment worth $49.3 mln (22%), food products worth $36.3 mln (16%), beverages and tobacco worth $34.3 mln (15%), miscellaneous manufactured articles worth $11.0 mln (5%), chemical products worth $5.1 mln (2.2%), and services worth $22.5 mln (10%).
Imports from Azerbaijan amounted to $80.0 mln, consisting primarily of food products valued at $43.2 mln (54% of total imports), manufactured goods worth $17.4 mln (22%), machinery and transport equipment worth $5.8 mln (7.3%), chemical products worth $5.4 mln (6.8%), crude materials excluding fuels worth $1.3 mln (1.6%), mineral fuels and lubricants worth $1.2 mln (1.5%), and services worth $4.3 mln (5.4%).
Particular attention is being given to investment cooperation. In 2023, the Azerbaijan-Uzbekistan Investment Company was established with an authorized capital of $500 mln.
At present, 442 enterprises with Azerbaijani capital operate in Uzbekistan. Compared with 71 enterprises in 2017, their number has increased 6.2-fold.
In 2025, Azerbaijani investment in Uzbekistan reached $173.7 mln, compared with just $0.1 mln in 2017. The cumulative volume of Azerbaijani investment in Uzbekistan has amounted to $318.6 mln.
The main sectors of activity for enterprises with Azerbaijani capital include construction, manufacturing, and agriculture.
Uzbek capital is also expanding its presence in the Azerbaijani market, including through joint ventures for the production of automobiles and textile products.
Transport represents another important area of cooperation. Uzbekistan is interested in implementing joint projects aimed at making effective use of Azerbaijan’s transport and logistics infrastructure to deliver goods to Europe via the Trans-Caspian International Transport Route (Middle Corridor).
CERR Public Relations Sector
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