Ankara:Trkiye and Uzbekistan have signed significant new trade agreements aimed at expanding bilateral cooperation across various sectors, with a goal to increase their annual trade volume to $5 billion in the short term. This development was marked during a meeting between Turkish President Recep Tayyip Erdogan and Uzbek President Shavkat Mirziyoyev in Ankara, coinciding with the 13th summit of the Organization of Turkic States (OTS).
According to Anadolu Agency – English, the discussions between the two leaders covered areas such as trade, investment, mining, transportation, and the defense industry. This engagement follows Mirziyoyev's earlier visit to Trkiye in January for the High-Level Strategic Cooperation Council, where agreements were signed in health, energy, finance, and culture.
During their recent meeting, Erdogan and Mirziyoyev signed five additional agreements focusing on trade, social security, and business support, including a protocol to expand the scope of the preferential trade agreement between the two nations. They also established the Trkiye-Uzbekistan Business and Investment Council to foster joint commercial projects and enhance ties between public and private sectors.
These new frameworks are anticipated to elevate the bilateral trade volume from approximately $3.1 billion last year to a medium-term target of $10 billion. Trkiye currently stands as Uzbekistan's fourth-largest trading partner, with a reported $2.4 billion in bilateral trade from January to September, comprising $1.5 billion in Turkish exports and $917.4 million in imports.
Trkiye recorded a trade surplus of $1 billion with Uzbekistan in 2024 and 2025, driven by increasing exports over the past five years. Turkish exports to Uzbekistan grew from $1.84 billion in 2021, peaking at $2.2 billion in 2024, and slightly settling at $2.1 billion last year. Machinery and mechanical devices, electrical machinery, and plastics were among the top export categories.
Conversely, Trkiye's imports from Uzbekistan saw a decline from $1.8 billion in 2021 to $1.03 billion last year, with copper and copper goods making up a significant portion of the imports, valued at $414 million. Additionally, the Turkish construction sector has completed 333 projects in Uzbekistan, valued over $9.5 billion, improving its ranking in the country.
The strengthening economic ties between Trkiye and Uzbekistan are also evident in the rising tourism numbers. The number of Uzbek visitors to Trkiye surged from an average of 146,000 annually during 2010-2020 to 649,719 last year, reflecting a 138.3% increase over five years.