Uzbekistan and Azerbaijan sign Eternal Friendship Treaty, set $1bn trade target
Uzbekistan and Azerbaijan signed a Treaty on Eternal Friendship in Tashkent, agreeing to raise bilateral trade to $1bn by 2030 and deepen Trans-Caspian transport links.
Presidents Shavkat Mirziyoyev and Ilham Aliyev signed a Treaty on Eternal Friendship in Tashkent on Sunday, marking a highlight of Aliyev's two-day state visit to Uzbekistan. Before the signing, the leaders held one-on-one talks and chaired the third meeting of the Supreme Interstate Council, a body established in 2023 to coordinate long-term cooperation. The countries had already upgraded ties through a Treaty on Allied Relations in 2024.
Trade and investment
Aliyev told Uzbekistan's state agency UzA that bilateral trade reached $795mn in 2025, more than triple the previous year, and rose 33% year-on-year to $144mn in the first five months of 2026. The Azerbaijan-Uzbekistan Investment Company, set up in 2023 with $500mn in capital, continues to finance joint projects.
During the visit, the leaders launched several Azerbaijani-backed ventures, including a gypsum plant, two STEAM schools, five planned SOCAR filling stations and a silver-ore processing facility. Azerbaijan's state bank ABB is negotiating a 51% stake in Uzbekistan's Davr Bank, a deal worth over $100mn. Aliyev also said joint oil and gas exploration projects are nearing completion, with production drilling possible next year. The largest disclosed venture is Sea Breeze Uzbekistan, a $5bn tourism and residential development at the Charvak reservoir.
Trans-Caspian connectivity
The leaders agreed to strengthen the Middle Corridor by improving logistics and freight flows across the Caspian, and Mirziyoyev announced plans for a joint Caspian fleet. Transit freight between the two countries reached 1.4 million tonnes in 2025, rising 12.2% year-on-year in the first half of 2026. The EU's Global Gateway strategy backs the Trans-Caspian network, while Azerbaijan, Kazakhstan and Uzbekistan are developing a green-energy corridor to transmit electricity across the Caspian.
The two sides also signed agreements on pensions, culture and tourism, and announced they will jointly host the FIFA U-20 World Cup in 2027. The presidents exchanged their countries' highest state honours during the visit.
