Georgia and Uzbekistan to Boost Trade Turnover to $1 Bn

On March 5, Prime Minister of Georgia Irakli Kobakhidze held meetings with the President of Uzbekistan Shavkat Mirziyoyev and Prime Minister Abdulla Aripov. Discussions focused on expanding cooperation in trade, investment, transport, tourism, and other key sectors. Both sides emphasised the need to enhance intergovernmental dialogue to maintain the positive momentum in bilateral relations.

Bilateral trade growth and investment expansion

In 2024, trade turnover between the two countries increased by 50%, with the number of joint enterprises also rising. A key area of focus was the development of a digital bank with the participation of Georgian investors.

Mirziyoyev highlighted the importance of maintaining trade growth and expanding industrial cooperation. «Our priority is to strengthen economic ties and maximise the potential of our partnership,» he stated.

Both governments are committed to leveraging transit opportunities and increasing cooperation between regions. The expansion of partnerships in digitalisation and tourism is also under consideration.

Targeting $1 bn trade volume

Uzbekistan and Georgia have set a target to increase bilateral trade to $1 bn in the coming years. Aripov and Kobakhidze discussed measures to achieve this goal, including full utilisation of the Free Trade Agreement between the two countries.

«The current trade volume does not fully reflect the potential of our economies. We must work together to expand market access and trade flows,» Kobakhidze noted.

Efforts will focus on boosting exports in key sectors, including textiles, leather goods, electrical equipment, metals, chemicals, construction materials, and food products.

Expanding cooperation in key sectors

Beyond trade, both countries expressed interest in strengthening collaboration in education, tourism, and agriculture. Enhancing economic ties through investment and joint projects remains a priority.

Mirziyoyev underlined the broader significance of this partnership: «By working together, we can create new opportunities for businesses and drive sustainable growth for both nations.»

The governments will continue discussions to implement measures that support economic integration and long-term cooperation.