Uzbekistan, Turkey expand business partnership as trade surges 43.8%

Uzbekistan and Turkey moved to deepen economic cooperation during a major business forum in Tashkent that brought together officials, investors and representatives of around 170 companies from both countries.

Photo: Ministry of Investment, Industry and Trade

Trade and investment ties between the two countries have expanded steadily in recent years. Bilateral trade has increased by 43.8% over the past five years, while Turkish investments in Uzbekistan reached $3.2 billion in 2025. More than 2,200 Uzbek-Turkish joint ventures are currently operating across sectors, including construction, logistics, textiles, and manufacturing.

Executives from major Turkish and Uzbek companies discussed prospective projects in energy, chemicals, mining, and pharmaceuticals. Among the priorities outlined during the forum were increasing the share of green energy generation to 50% by 2030, modernizing agriculture, and expanding cooperation through Uzbekistan’s IT Park and the Tashkent-Pharm industrial cluster.

Uzbekistan’s industrial enterprises also signed several cooperation agreements and memoranda with Turkish partners covering mining, industrial production, laboratory technologies, and engineering services.

Business-to-business and government-to-business negotiations focused heavily on healthcare and pharmaceuticals, with participants highlighting growing demand in the regional pharmaceutical market, estimated at around $9 billion. Companies from both sides expressed interest in establishing new joint production facilities and introducing Turkish medical technologies and expertise to Uzbekistan.