Azerbaijan, Central Asian Nations Commit to Boost Trade and Investment

Azerbaijan and Central Asian countries have agreed to deepen economic cooperation and develop new investment partnership mechanisms following the first meeting of the Council of Trade and Investment Ministers of Azerbaijan and Central Asian states, held in Tashkent, Uzbekistan on November 13.

Azerbaijan was represented by First Deputy Minister of Economy Elnur Aliyev, The Caspian Post informs via local media.

Officials discussed a wide range of measures aimed at strengthening regional trade and industrial integration. Key initiatives include raising the region’s annual trade turnover to $20 billion, establishing joint manufacturing facilities under the “Made in Central Asia” brand, and attracting international financial institutions and major investors for collaborative industrial and infrastructure projects.

Highlighting the region’s trade growth, the ministry noted: “Mutual trade with Central Asian countries has shown steady expansion. From $3.2 billion in 2017, total trade more than doubled to $6.9 billion in 2024. Trade with Kazakhstan nears $4 billion, with Kyrgyzstan at nearly $700 million, Tajikistan over $570 million, and Turkmenistan more than doubled in five years to $1.15 billion. Trade with Azerbaijan has also grown, rising 13 per cent since the start of this year.”

The meeting concluded with a joint communiqué that outlined agreements on expanding economic cooperation, advancing industrial collaboration and joint production, and creating new mechanisms for investment partnerships, signaling a strengthened regional economic alliance.