The official visit of president of Uzbekistan to Baku marked a major step in strengthening economic ties between Azerbaijan and Uzbekistan.
During the visit, the Azerbaijan Uzbek Investment Company (AUIC) highlighted the need to deepen bilateral cooperation alongside several other initiatives, The Caspian Post reports via Uzbek media.
Currently, 280 enterprises with Azerbaijani capital operate successfully in Uzbekistan. Trade analysis between the two countries shows ongoing shifts in export and import structures, reflecting evolving economic priorities on both sides.
During the visit, the leaders held extensive talks on international and regional cooperation and explored prospects for further collaboration. Both countries expressed interest in sharing expertise on developing free economic zones and improving tax systems. Expanding cultural and humanitarian exchanges was also emphasized as a key factor in strengthening bilateral relations and mutual understanding.
The recent ratification of the Treaty on Allied Relations between Uzbekistan and Azerbaijan represented an important milestone in deepening strategic partnership and creating a framework for mutual growth.
In Khiva, the first Uzbekistan-Azerbaijan Interparliamentary Forum convened, bringing together parliamentary and youth organization representatives from both countries to discuss joint initiatives and explore new cooperation opportunities. The proposals presented closely aligned with AUIC’s mission to enhance investment attractiveness and support sustainable economic growth in both nations.
Earlier, in June, Baku hosted the 14th session of the Joint Intergovernmental Commission on Cooperation, where both sides reaffirmed investment as a priority and agreed to expand joint project financing across the two countries and the region. AUIC is currently evaluating 15 promising projects across multiple sectors.
“We focus on ensuring that companies from Uzbekistan and Azerbaijan have equal opportunities for financing - from $1 million to $25 million in direct investments. Our annual plan includes 10-15 investment deals, six of which are expected to close this year. By investing in education, healthcare, manufacturing, and supporting Uzbek entrepreneurs entering the Azerbaijani market and Azerbaijani entrepreneurs entering the Uzbek market, we aim to contribute to building a strong and sustainable foundation for mutual economic growth,” said AUIC CEO Nazim Hajiyev.
AUIC continues to explore new investment opportunities in key sectors, leveraging a portfolio of approved projects valued at over $80 million.
In all its initiatives, AUIC adheres to principles of sustainable development, strategic alignment, and long-term impact. The company seeks not only financial returns but also aims to support inclusive regional development, drive innovation, and promote sustainable economic growth across Uzbekistan, Azerbaijan, and the wider region.
