Ministry of Economy: Azerbaijan, Tajikistan preparing projects worth $700M

Azerbaijan and Tajikistan are conducting a feasibility study of a number of projects worth a total of $700 million, signed during the Azerbaijan-Tajik business forum held in Baku in May 2024, Report informs referring to the Ministry of Economic Development and Trade of Tajikistan.

Among them are an agreement between the Azerbaijan Industrial Corporation and Tajik partners on increasing mutual trade volumes, creating textile enterprises, developing refined oil production, developing land for cotton cultivation and processing cotton seeds; a memorandum of understanding between the Tajik Aluminum Company (TALCO) and Azeraluminium OJSC; agreements between Tajagropromexport and the Azerbaijan Industrial Corporation, as well as initiatives in the textile industry and cotton growing.

“We are actively cooperating with Azerbaijan in the implementation of these projects and look forward to their accelerated implementation,” the ministry emphasized.

Tajikistan and Azerbaijan also plan to create joint ventures for the production of alumina and anode blocks.

“Alumina supplies are a new area of ​​cooperation. In addition, we consider it a priority to establish the export of anode blocks from Tajikistan to Azerbaijan. The parties have the necessary potential and expect to sign new agreements in the near future,” the ministry noted.

During the sixth meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation, held in 2023, the parties agreed on the possible participation of Azerbaijan in financing the modernization of the TALCO plant. The supplies of aluminum, cryolite and aluminum fluoride from Tajikistan to Azerbaijan, as well as the export of alumina from Azerbaijan to Tajikistan were also discussed.

According to the State Customs Committee of Azerbaijan, the trade turnover between the two countries for January-May 2025 amounted to $6.54 million, an increase of 2.3 times compared to the same period last year. Exports from Azerbaijan to Tajikistan reached $6 million, imports - $534,000.