Uzbekistan-Türkiye Trade Flourishes with $2.6 Billion Turnover

Uzbekistan and Türkiye have deepened their economic cooperation, with bilateral trade turnover reaching an impressive $2.6 billion, according to the State Customs Committee of Uzbekistan.

This significant development was highlighted during the fifth meeting of the Uzbekistan-Türkiye Joint Customs Council, which took place in the historic city of Khiva, The Caspian Post reports, citing The Times of Central Asia.

Friendly ties between the leaders of the two countries have laid the foundation for enhanced cooperation across a broad range of sectors, including politics, trade, investment, culture, and humanitarian initiatives.

Since the inaugural Joint Customs Council meeting in 2018, trade turnover between the two countries has grown by 35%, rising from $1.9 billion to $2.6 billion by the end of 2024. Officials called this an impressive achievement in the context of ongoing global economic challenges and noted that there is still considerable room for further growth through deeper customs collaboration.

One of the most impactful developments has been the 2022 agreement on the exchange of advance information on goods and vehicles. The agreement is currently undergoing preparations for full-scale implementation. Additionally, the two countries have improved mechanisms for foreign trade data exchange and made progress in addressing statistical discrepancies during a bilateral meeting in Samarkand in September. The next round of talks on this issue is scheduled to take place in Türkiye.

Another key topic at the Khiva meeting was the mutual recognition of authorized economic operators (AEOs), a proposal first introduced at the 11th meeting of customs authorities from Turkic states, held in Kazakhstan. A draft agreement on mutual recognition is currently under review by the Turkish side.

Over the past five years, Uzbekistan’s trade volume managed by AEOs has more than doubled, increasing from $1.3 billion in 2020 to $2.7 billion in 2024. Council members also reviewed a joint cooperation plan for 2025-2026, which aims to further strengthen economic relations and streamline customs procedures.