Iran, Uzbekistan Target $2 Billion in Annual Trade

Iran and Uzbekistan are intensifying efforts to boost trade, aiming to increase annual exchanges from approximately $500 million to $2 billion.

The goal was emphasized by Fariddin Nasriev, Uzbekistan’s ambassador to Iran, The Caspian Post reports, citing TV BRICS.

Nasriev made the remarks on Wednesday, on the sidelines of a regional economic summit during a meeting with the governor-general of Iran’s Zanjan province. "Considering the agreements between the presidents of the two countries, the goal of increasing this figure to US$2 billion is being pursued," he said.

The initiative builds on the 16th Iran-Uzbekistan Joint Economic Committee meeting held in Tehran, where Iran’s Minister of Industry, Mohammad Atabak, called for a “fundamental transformation” in trade relations. He stressed the need for improved transport, banking and customs links and described Iran’s geographic position as a vital trade corridor for Uzbekistan.

Uzbekistan’s Minister of Industry announced the opening of a Trade House in Tehran to facilitate commerce and confirmed that the number of joint enterprises between the two countries has more than doubled in five years.

Both governments see the partnership as part of a wider push to deepen regional ties across the Global South. With Iran ready to invest in Uzbekistan’s textile and manufacturing sectors, officials on both sides say the new framework could double trade volume and pave the way for long-term cooperation in energy, industry and cultural exchange.