Over the past five years, the volume of trade between Uzbekistan and Türkiye has increased by 1.4 times, according to the Ministry of Investment, Industry and Trade. Additionally, the number of enterprises operating in Uzbekistan with Turkish capital has approached 2,000, reflecting a robust and deepening economic partnership.
Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov, met with the Turkish Ambassador to Uzbekistan, Ufuk Ulutaş, on April 22 to explore new avenues for cooperation and unlock the untapped potential in bilateral trade and investment.
Despite the steady progress, both sides acknowledged that regional collaboration remains below its full potential. They discussed joint initiatives to expand economic engagement, with a particular focus on updating the list of goods covered under the preferential trade agreement.
An important outcome of the meeting was the agreement to sign a mutual recognition arrangement in the field of conformity assessment. This is expected to facilitate greater access to each other’s markets and help the two countries move toward their shared goal of increasing bilateral trade to $5bn in the coming years.
Ambassador Ulutaş praised the reform efforts underway in Uzbekistan, emphasizing that the country offers unique opportunities for international investors. He confirmed Turkey’s strong interest in expanding its investment footprint and pledged full support to attract Turkish businesses to Uzbekistan.
The two sides also established a direct communication mechanism to coordinate upcoming high-level visits and address emerging issues in a timely manner. Specific sectors were identified for expanded strategic cooperation, underscoring a mutual commitment to deepening the comprehensive partnership between the two nations.
In the first quarter of 2025, Türkiye ranked as Uzbekistan’s fourth-largest trading partner with a trade turnover of $607.6mn. This marks a decline from $676.3mn in the same period of 2024 and $828.6mn in 2023.
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