The Center for Economic Research and Reforms (CERR) has conducted an analysis of trade, economic, and investment cooperation between Uzbekistan and Turkiye over the past 9 years.
Economic cooperation between Uzbekistan and Turkiye is carried out within the framework of signed bilateral agreements and established mechanisms of intergovernmental interaction, and is accompanied by regular high-level contacts. In addition, Uzbekistan and Turkiye cooperate within the framework of the Organization of Turkic States.
In 2023, an official visit of the President of the Republic of Turkiye to Uzbekistan took place, during which the Uzbek–Turkish Business Forum was held. As a result of the visit, a large package of intergovernmental and commercial documents was signed, covering key sectors of the economy for a total amount of about $10 bln.
In June 2024, an official visit of the President of the Republic of Uzbekistan to Turkiye was held. During the visit, a meeting of the High-Level Strategic Cooperation Council took place, following which a package of important agreements, protocols, and roadmaps was signed, aimed at further expanding trade, economic, and investment cooperation.
In mutual trade between Uzbekistan and Turkiye, the most-favored-nation regime is in effect, and a Preferential Trade Agreement has also been signed.
Turkiye is among Uzbekistan’s key trade and economic partners, ranking 4th in terms of total trade turnover and imports and 5th in terms of Uzbekistan’s exports.
In Uzbekistan’s foreign trade turnover in 2025, Turkiye’s share amounted to 3.7% of total trade, 3.4% of exports, and 4% of imports.
Over the period 2017–2025, bilateral trade between the two countries increased 1.9 times and reached $3 bln by the end of 2025. Exports to Turkiye grew 1.3 times to $1.1 bln, while imports from Turkiye increased 2.8 times to $1.9 bln.
At the same time, annual growth rates of imports from Turkiye consistently exceeded the growth rates of exports to Turkiye, which led to an expansion of the trade deficit to -$751.6 mln.
Uzbekistan’s exports to Turkiye in 2025 consisted of industrial goods (copper products, yarn, and others) amounting to $511.4 mln (45%), various manufactured articles (mainly precious metal products) totaling $152.3 mln (13.4%), chemical products (polymers, fertilizers, and others) at $124.3 mln (11%), machinery and transport equipment at $80.1 mln (7%), food products (dried fruits and nuts) at $63 mln (5.5%), petroleum products (gasoline, gas oils) at $36.6 mln (3.2%), non-food raw materials at $18 mln (1.6%), as well as services (mainly transport services) amounting to $149.9 mln (13.2%).
Imports from Turkiye in 2025 were dominated by machinery and transport equipment totaling $674.6 mln (35.7%), chemical products at $408.9 mln (21.7%), industrial goods at $390.2 mln (20.7%), various manufactured articles at $136.2 mln (7.2%), food products at $94.6 mln (5%), petroleum products (lubricating oils) at $30.2 mln (1.6%), non-food raw materials at $30.1 mln (1.6%), as well as services amounting to $117.4 mln (6.2%).
An Agreement on the Promotion and Mutual Protection of Investments has been signed between the two countries. As of January 1, 2026, 2,137 enterprises with Turkish capital operate in Uzbekistan, accounting for 11.8% of the total number of active enterprises with foreign investment. Among them are 496 joint ventures and 1,641 enterprises with 100% Turkish ownership.
The cumulative volume of direct investments and loans from Turkiye to Uzbekistan’s economy over 2017–2025 amounted to $9 bln, of which $2.6 bln was attracted in 2025. Turkish capital continues to expand its presence in Uzbekistan, primarily in priority sectors of economic development, including energy, manufacturing, agriculture, and construction.
In particular, investments in the power supply sector are associated with the construction by the Turkish company Cengiz Enerji of a thermal power plant with a capacity of 240 MW in Tashkent Region and a similar plant with a capacity of 220 MW in Syrdarya Region.
In recent years, a steady upward trend has been observed in the volumes of mutual trade and investments, the number of enterprises with Turkish capital, and the expansion of areas of economic cooperation.
CERR Public Relations Sector
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