Tashkent, Uzbekistan (UzDaily.com) — On 28-29 January 2025, Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, paid a working visit to Türkiye, where he participated in several key events. These included a trilateral meeting of the foreign, trade, and transport ministers of Uzbekistan, Türkiye, and Azerbaijan, as well as the first-ever trilateral business forum.

During the visit, Kudratov held meetings and negotiations with executives from major Turkish and Azerbaijani companies.

A historic trilateral business forum brought together over 400 business representatives from the three countries. Uzbekistan showcased its investment attractiveness, highlighting tax incentives, access to a skilled workforce, abundant natural resources, a diversified industrial base, and measures to integrate into the global trade system, including WTO accession. The country also presented 500 projects worth $8 billion, drawing significant interest from foreign investors.

At the ministerial meetings, economic ties and future cooperation were key discussion points. Kudratov noted that trade turnover among the three nations had increased by 45% over the past five years, reaching $3.2 billion in 2024. The number of joint ventures in Uzbekistan with Turkish and Azerbaijani capital has also surged, reaching 2,100—2.5 times more than in 2020.

The main areas of future collaboration include:

Enhancing trade relations by simplifying and digitalizing certification and customs procedures while removing trade barriers;

Expanding industrial cooperation and boosting high-value-added production, including through the establishment of free economic zones in Uzbekistan with attractive conditions for investors.

Additionally, an official signing ceremony was held for the Ankara Declaration, outlining key directions for trade, economic, and investment cooperation. On the sidelines of the visit, Kudratov held bilateral meetings with high-level officials from Türkiye and Azerbaijan, including trade ministers and representatives of leading companies such as Hektaş, Ostim SEZ, BCM, Sham Yapi, and Yildizlar Group.