Georgia and Uzbekistan: heads of states intend to increase trade turnover to $1 billion

On March 5, Prime Minister of Georgia Irakli Kobakhidze held talks with President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Republic Abdulla Aripov. The main attention was paid to the expansion of bilateral cooperation in trade, economic, investment, transport, tourism and other areas.

Growth of trade and economic partnership

In 2024, the trade turnover between the two countries increased by 50%, while the number of joint ventures continues to grow rapidly. During the meeting, the sides stressed the importance of maintaining this dynamic, developing industrial cooperation and using the transit potential.

Special attention was paid to the functioning of the "digital bank created with the participation of Georgian investors". Probably, we are talking about TBC Bank Uzbekistan, which is actively developing financial technologies in the republic.

Striving for the billion-dollar milestone

The Prime Ministers of Georgia and Uzbekistan noted that the current volume of bilateral trade does not reflect the full potential of economic cooperation. In this regard, the goal was set to increase the trade turnover to $1 billion in the coming years.

To achieve this goal, the full range of opportunities provided for in the free trade agreement will be used. In particular, it is planned to expand the supply of textile and leather products, electrical equipment, metals, chemical products, building materials and food.

In addition, the two countries intend to develop cooperation in the fields of education, tourism and agriculture, which will be an important step in strengthening bilateral economic ties.