On January 28-29 of this year, Laziz Kudratov, the Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, undertook a working visit to the Republic of Turkey. During this visit, he participated in a meeting with the Ministers of Foreign Affairs, Trade, and Transport from Uzbekistan, Turkey, and Azerbaijan. Additionally, he attended a trilateral business forum and conducted several meetings and negotiations with leaders of prominent Turkish and Azerbaijani companies.

The agenda was preceded by a business forum, which was held for the first time in a trilateral format, featuring the participation of over 400 representatives from the business communities of the three countries.

Business representatives were presented with key components of Uzbekistan's investment appeal, including incentives and benefits, a well-trained and educated workforce, abundant mineral resources, a diversified industrial base, preferential access to regional and European markets, and Uzbekistan's proactive efforts to join the World Trade Organization (WTO). Additionally, a robust portfolio of 500 projects totaling $8 billion was showcased, generating significant interest among foreign investors.

In accordance with the agenda, a trilateral meeting of the Ministers of Foreign Affairs, Trade, and Transport from Uzbekistan, Turkey, and Azerbaijan was held on the same day. In his welcoming speech, Laziz Kudratov highlighted the progressive development of strategic relations among the three countries in recent years.

Over the past five years, trade turnover between the three countries has increased by almost 45%, reaching $3.2 billion in 2024. Investment cooperation is also developing successfully, with 2,100 enterprises involving capital from Turkey and Azerbaijan now operating in Uzbekistan—2.5 times more than in 2020. Additionally, 577 joint ventures with Uzbek capital are successfully operating in Turkey and Azerbaijan.

Laziz Kudratov highlighted the importance of fully utilizing the existing economic potential to achieve even greater results. He elaborated on promising areas for further cooperation between the countries.

First and foremost is the development of trade relations by leveraging the 140-million-strong common market. He emphasized the need to simplify and digitize certification and customs procedures, eliminate tariff and non-tariff barriers, and introduce universally recognized international standards and certifications across all three countries.

Another key area is industrial cooperation, with a focus on increasing the production of high value-added products. Uzbekistan has established free economic zones with preferential fiscal and infrastructural conditions, enabling the implementation of projects of any complexity while ensuring access to both local and regional markets.

The meeting also included speeches by the heads of specialized ministries from Turkey and Azerbaijan, a constructive exchange of views on key issues of multifaceted cooperation, and the signing ceremony of the Ankara Declaration, which outlines the future directions for trade, economic, and investment collaboration between the countries.

On the sidelines of the visit, Laziz Kudratov held several bilateral meetings and negotiations with Turkish Trade Minister Ömer Bolat, Azerbaijani Trade Minister Mikayil Jabbarov, and the heads of major companies such as Hektaş, FEZ “Ostim,” BCM, Sham Yapi, Yildizlar Group, and others.