Baku: Azerbaijan has made a significant investment of $183.5 million in the economy of Uzbekistan, marking a robust phase in the trade and economic collaboration between the two nations. President of the Republic of Azerbaijan, Ilham Aliyev, highlighted the dynamic nature of this cooperation in an interview with Uzbekistan National News Agency, as reported by APA.

According to Azeri-Press News Agency, President Aliyev noted that nearly 120 commercial organizations with Uzbek investment are actively operating in Azerbaijan across sectors such as industry, agriculture, construction, transportation, and services. The trade between Azerbaijan and Uzbekistan has seen a notable increase, with trade turnover reaching $252 million in 2024. In the first nine months of 2025, this figure rose by 87.5 percent compared to the same period last year, totaling $319 million.

Investment cooperation has also been on the rise. In 2023, the countries established a joint Azerbaijan-Uzbekistan Investment Company with a capital of $500 million, designed to facilitate investments both domestically and in third countries. A joint venture, notably a garment factory in Khankendi, has been highlighted as a significant development in the light industry, further strengthening ties between the two nations.

The President emphasized the vital role of the Intergovernmental Commission on Cooperation in enhancing economic relations and exploring promising areas for interaction. The Azerbaijan-Uzbekistan Regional Forum serves as a key platform for promoting cooperation. Azerbaijan is keen on further expanding its cooperation with Uzbekistan across all economic sectors, backed by strong political will and a considerable legal framework comprising nearly 200 signed documents. This cooperation aims to benefit both countries and fortify the friendship and partnership between their peoples.