The official visit of the President of Uzbekistan to Baku was an important event, reaffirming the priority of strengthening economic ties between Azerbaijan and Uzbekistan. During the visit, alongside several other initiatives, the Azerbaijan – Uzbekistan Investment Company (AUIC) emphasized the need for further deepening of bilateral cooperation.

At present, 280 enterprises with Azerbaijani capital are successfully operating in Uzbekistan. An analysis of the dynamics of Uzbekistan – Azerbaijan foreign trade relations shows constant changes in the structure of exports and imports, reflecting the growing economic priorities of both sides.

During the visit, the leaders of both nations engaged in comprehensive discussions on international and regional developments, as well as plans for future cooperation. They expressed a strong interest in exchanging expertise on the development of free economic zones and improvements to tax administration systems. Additionally, both sides emphasized the importance of expanding cultural and humanitarian exchanges, recognizing their role in deepening bilateral relations and mutual understanding.

The recent adoption of the Law of the Republic of Uzbekistan on the Ratification of the Treaty on Allied Relations between the Republic of Uzbekistan and the Republic of Azerbaijan represents a significant milestone in formalizing the alliance and promoting mutual growth.

The inaugural Uzbekistan – Azerbaijan Interparliamentary Forum, held in Khiva, marked another step toward implementing agreements made at the highest levels of government. Members of Uzbekistan’s Oliy Majlis and Azerbaijan’s Milli Mejlis, along with youth parliament representatives from both countries, engaged in productive discussions to identify areas of joint opportunity.

The proposals presented by both delegations align closely with AUIC’s mission: to increase investment attractiveness and support sustainable economic growth in both countries.

In June, Baku hosted the 14th meeting of the Joint Intergovernmental Commission on Cooperation between Uzbekistan and Azerbaijan, where both sides reaffirmed that investment cooperation remains a top priority. AUIC is creating new opportunities for joint project financing not only within the two countries but also in the broader regional context. The company is currently reviewing 15 promising projects across various sectors.

“Our main focus is to provide equal financing to private companies in Uzbekistan and Azerbaijan, with direct investments ranging from $1 million to $25 million”, said Nazim Gadzhiev, CEO of the Azerbaijan – Uzbekistan Investment Company. “We aim to finalize at least 10-15 deals each year, with six transactions expected this year. By investing in sectors such as education, healthcare, and manufacturing, and by supporting Uzbekistan’s entrepreneurs as they expand into Azerbaijan, we are confident that our growing capital base will significantly contribute to the economic development and cooperation between our two countries”.

AUIC continues to evaluate new investment opportunities across key sectors, building on an initial portfolio of approved projects exceeding $80 million.

In all its investment initiatives, AUIC is guided by the principles of sustainable development, strategic alignment, and ensuring long-term impact. The company seeks not only financial returns but also the promotion of inclusive regional development, the stimulation of innovation, and the achievement of sustainable economic growth in Uzbekistan, Azerbaijan, and the region as a whole.

Aziza Alimova, UzA