Azerbaijan-Uzbekistan Trade Potential Exceeds $1 Billion CPR Head

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 15. The trade potential between Azerbaijan and Uzbekistan already exceeds the $1 billion target set by the two countries, but unlocking this potential requires closer business cooperation and addressing information gaps, Miroshid Aslanov, head of Uzbekistan's Center for Progressive Reforms (CPR), said, Trend 's correspondent reports from the event.

He made the remarks at the presentation of the Azerbaijan-Uzbekistan Business Barometer initiative.

Aslanov noted that a joint analysis by CPR and the CASPIA think tank had identified significant opportunities to further increase bilateral trade.

According to him, CPR and CASPIA are developing the Azerbaijan-Uzbekistan Business Barometer specifically to identify and realize these opportunities. He noted that trade between Azerbaijan and Uzbekistan has increased significantly over the past decade. "Just 10 years ago, trade turnover did not exceed $10–15 million," he said.

Furthermore, Aslanov stated that, the current figure has reached about $800 million, including around $300 million in regular trade and $508 million in trade in precious metals.

At the same time, the potential for bilateral trade is significantly higher than current volumes. According to the analysis presented, Uzbekistan could potentially increase its exports to Azerbaijan by around $500 million, while Azerbaijan could additionally export more than $650 million worth of goods to Uzbekistan. "Overall, trade turnover can easily exceed $1 billion," Aslanov said.

According to him, one of the main challenges remains a lack of information among businesses about opportunities in the markets of the two countries.

The new initiative is expected to create an ecosystem that will enable importers and exporters to obtain information on potential products, partners, markets and trade conditions.

Aslanov stressed that particular attention should be paid to small and medium-sized businesses, as large companies are already actively involved in bilateral economic relations.

MENAFN15092026000187011040ID1111666114