Trade information
Uzbekistan, Azerbaijan and Türkiye intend to increase trade turnover, strengthen cooperation in energy sector

On August 2, Tashkent hosted the first trilateral meeting of the ministers of foreign affairs, trade, economy and transport of Uzbekistan, Azerbaijan and Türkiye.

“A completely new dialogue mechanism, organized in accordance with the agreements of the presidents of the three states, made it possible to find points of convergence of interests on many priority issues,” the MIFT says in a report.

At the meeting, the parties exchanged views on foreign policy issues and opportunities for regional cooperation, activities to realize the full potential of the partnership of the three countries in the fields of economy, trade, investment and transport.

It was announced that over the past five years, the trade turnover of Uzbekistan with Azerbaijan and Turkey has increased considerably, by the end of 2021 the figures reached $3.5 billion. First Deputy Minister of Investments and Foreign Trade of Uzbekistan Laziz Kudratov noted that there are all prerequisites to double the trade turnover between the countries. This is one of the priority areas for strengthening relations. Uzbekistan has the opportunity to raise the volume of supplies to Azerbaijan and Türkiye of equipment, textiles, footwear and food.

To facilitate mutual access to markets, it was proposed to create a new e-commerce platform. It will simplify the communication of entrepreneurs, exporters, importers in order to sell goods at more affordable prices.

The sides also considered the possibility of implementing joint projects to develop industrial cooperation, collaboration in the energy sector and use the high transit potential of the three countries. It was proposed to organize an annual interregional forum Uzbekistan-Azerbaijan-Türkiye and hold its first meeting in Tashkent.

Following the meeting, the parties signed a declaration.