On June 20, Mikayil Jabbarov, Minister of Economy of Azerbaijan, announced that Azerbaijan and Uzbekistan agreed to increase their mutual trade turnover to $1 billion by 2030 during the Azerbaijan-Uzbekistan Interregional Forum in Baku.

Jabbarov stated that this target could be achieved not only through enhanced trade but also by expanding mutual investments and launching industrial cooperation projects. He noted that concrete steps were already being taken in this direction.

Emphasizing the positive momentum in bilateral economic ties, Jabbarov highlighted that trade turnover between the two countries had more than tripled in the first five months of this year compared to the same period in 2023, surpassing $200 million.