On January 28-29 in Turkey, Laziz Kudratov, the Minister of Investment, Industry and Trade of Uzbekistan, participated in a meeting with the Ministers of Foreign Affairs, Trade, and Transport from Uzbekistan, Turkey, and Azerbaijan. He also attended a trilateral business forum with the participation of over 400 representatives from the business communities of the three countries.
At the trilateral meeting of the Ministers of Foreign Affairs, Trade, and Transport from Uzbekistan, Turkey, and Azerbaijan, Kudratov highlighted the progressive development of strategic relations among the three countries in recent years.
Over the past five years, trade turnover between the three countries has increased by almost 45%, reaching $3.2 billion in 2024. Investment cooperation is also developing successfully, with 2,100 enterprises involving capital from Turkey and Azerbaijan now operating in Uzbekistan. Additionally, 577 joint ventures with Uzbek capital are successfully operating in Turkey and Azerbaijan.
Kudratov highlighted the importance of fully utilizing the existing economic potential to achieve even greater results. He elaborated on promising areas for further cooperation between the countries.
First and foremost is the development of trade relations by leveraging the 140-million-strong common market. He emphasized the need to simplify and digitize certification and customs procedures, eliminate tariff and non-tariff barriers, and introduce universally recognized international standards and certifications across all three countries.
Another key area is industrial cooperation, with a focus on increasing the production of high value-added products. Uzbekistan has established free economic zones with preferential fiscal and infrastructural conditions, enabling the implementation of projects of any complexity while ensuring access to both local and regional markets.
The meeting resulted in the signing of the Ankara Declaration, which outlines the future directions for trade, economic, and investment collaboration between the countries.
