22.06.26
Azerbaijan is playing a significant role in Uzbekistan's economic development by providing the country with access to European markets through its advanced transport and transit infrastructure, Vesti.az reported. According to the report, Uzbekistan's economy grew by 7.4% in 2024, while the country's gross domestic product (GDP) is projected to expand by 6.8% in 2025.
The agency noted that economic cooperation between Azerbaijan and Uzbekistan has been developing dynamically in recent years. In 2024, the volume of joint projects between the two countries increased by 30%. The two sides aim to raise their bilateral trade turnover to $1 billion by 2030. In addition, the establishment of a $10 billion joint investment fund is expected to further strengthen the economic partnership between the two countries.
The article also highlights the activities of the Azerbaijan–Uzbekistan Investment Company (AUIC), established in 2023 with an authorized capital of $500 million. The company is currently financing projects in high technology, manufacturing, and export-oriented industries. To date, its investment portfolio has reached $144 million.
The authors of the article emphasize that the experience of Azerbaijan and Uzbekistan in establishing a joint investment company could serve as a successful model for other countries seeking to deepen their economic cooperation.
