Euronews: Uzbekistan and Azerbaijan to expand trade and transport cooperation

Uzbekistan and Azerbaijan intend to significantly expand trade, economic, investment and transport cooperation, as well as strengthen cooperation in the energy and tourism sectors, according to an article in Euronews, cited by Report.

Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev held talks in Tashkent as part of the Azerbaijani president's state visit. The leaders discussed further development of bilateral ties and held the third meeting of the Supreme Interstate Council, established in 2023 to coordinate long-term cooperation.

The heads of state signed a Treaty on Eternal Friendship. The document was one of the key outcomes of Aliyev's two-day state visit to Uzbekistan.

Following the talks, Mirziyoyev told journalists that Azerbaijan is a "reliable ally, strategic partner and fraternal state."

One of the key goals is to increase bilateral trade to $1 billion by 2030. In an interview with Uzbekistan's state news agency UzA ahead of his trip to Tashkent, Ilham Aliyev said bilateral trade reached $795 million in 2025, more than tripling from the previous year. In January-May 2026, trade amounted to $144 million, up 33% from the same period in 2025.

The Azerbaijan-Uzbekistan Investment Company, established in 2023 with $500 million in capital to finance projects in both countries, also continues to operate.

During the visit, projects involving Azerbaijani companies were launched and inaugurated in banking, construction, education, fuel retail, tourism, housing construction, mining and agriculture. These include a gypsum production plant, two STEAM schools, five planned SOCAR filling stations and a silver-bearing ore processing facility.

In addition, Azerbaijani state-owned bank ABB is negotiating the acquisition of a 51% stake in Uzbekistan's Davr Bank. According to S&P Global, the deal is valued at more than $100 million, although it still requires the necessary regulatory approvals.

Another major project is the Sea Breeze Uzbekistan tourism complex on the shores of the Charvak Reservoir in Tashkent Region. Investment in the 577-hectare project is estimated at $5 billion. The complex is designed to promote year-round tourism and develop residential infrastructure.

The sides are also discussing joint projects in the oil and gas sector. According to Aliyev, bilateral oil and gas exploration projects are at the final stage, and if the exploration results are positive, drilling of production wells could begin as early as next year.

Particular attention was paid to the development of the Middle Corridor. Aliyev described Central Asia and Azerbaijan as a single geopolitical and geoeconomic region. The leaders agreed to strengthen transport connectivity, develop logistics infrastructure and increase freight volumes along the Trans-Caspian route linking Central Asia with the South Caucasus and Europe.

Mirziyoyev also said the countries planned to intensify efforts to establish a joint fleet in the Caspian Sea.

According to figures cited by Aliyev, the volume of transit cargo between Uzbekistan and Azerbaijan reached 1.4 million tons in 2025. In the first half of 2026, the figure reached 675,000 tons, up 12.2% year on year.

The planned China-Kyrgyzstan-Uzbekistan railway could also be connected to the Middle Corridor and routes through the South Caucasus.

Energy cooperation is also entering a new phase. Azerbaijan, Kazakhstan and Uzbekistan are developing a green energy corridor project that envisages connecting the power grids of the three countries and exploring the possibility of transmitting renewable electricity across the Caspian Sea to Azerbaijan and onward to European markets.

During the visit, Uzbekistan and Azerbaijan also signed agreements on cooperation in pensions, culture, tourism, as well as between their foreign affairs and justice ministries and between cities of the two countries.

The two countries will also jointly host the FIFA U-20 World Cup in 2027. Mirziyoyev announced preparations for a joint program titled "Two Countries – One Championship."

In Tashkent, the leaders also attended the opening of a new campus of the Nizami National Pedagogical University, designed for 20,000 students, and launched the construction of an Azerbaijan Park in New Tashkent. In turn, Uzbekistan Park is planned to be established in Baku.

Following the visit, the presidents also exchanged the highest state awards of the two countries. Aliyev was awarded Uzbekistan's Order of Friendship (Dostlik), while Mirziyoyev received Azerbaijan's Heydar Aliyev Order.