Aslanov: Azerbaijan's untapped export potential to Uzbekistan amounts to $650M

Combined export potential of Azerbaijan and Uzbekistan exceeds $1.15 billion, creating a solid foundation for increasing bilateral trade turnover to the target level of $1 billion, CEO and co-founder of the Center for Progressive Reforms of Uzbekistan (CPR) Mirshohid Aslanov said at the presentation of the Azerbaijan-Uzbekistan Business Barometer, Report informs.

According to Aslanov, a study conducted by CPR together with CASPIA based on ITC Trade Map data revealed significant potential to expand mutual supplies across more than 43 commodity categories.

Specifically, Azerbaijan's unrealized export potential in the Uzbek market is estimated at approximately $650 million across 22 key commodity items. The most promising areas include supplies of polypropylene ($126 million), hazelnuts ($65 million), polyethylene ($55 million), aluminum ($47 million), and mineral water ($40 million).

In addition, cigarettes ($35 million), apples and pears ($34 million), sugar ($29 million), potatoes ($28 million), aluminum sheets ($23 million), steel bars ($21 million), butter ($21 million), as well as corks and caps ($16 million) were recognized as promising exports from Azerbaijan.

Uzbekistan's export potential in the Azerbaijani market is estimated at approximately $500 million across 21 commodity positions where the country acts as a specialized exporter.

The largest opportunities for Uzbek suppliers are associated with exports of polyethylene ($83 million), mineral water ($65 million), knitted T-shirts ($35 million), nitrogen fertilizers ($29 million), ceramic tiles, and vehicle bodies ($24 million each).

The list also includes aluminum profiles and dried nuts ($23 million each), building stone ($20 million), knitted fabrics ($16 million), non-woven materials, and engines ($13 million each).