Iran and Uzbekistan have pledged to boost bilateral trade to $1 billion, with senior officials from both countries calling for cancellation of visa requirements and enhanced investment ties during a high-level business forum.
Samad Hassanzadeh, President of Iran Chamber of Commerce, Industries, Mines, and Agriculture, said current trade volumes – estimated at around $500 million – could double by the end of this year if barriers are removed and structural cooperation improves.
“To facilitate trade, tourism, and mobility between our countries, Uzbekistan should move quickly toward lifting visa requirements for Iranian nationals,” Hassanzadeh told the Iran-Uzbekistan Business Forum.
He also urged improvements in flight connectivity and pricing to ease travel and foster closer economic ties.
Referring to recent progress in negotiations over a preferential trade agreement, Hassanzadeh expressed hope that the pact would be finalized and implemented in the near future.
Iran’s First Vice President Mohammad Reza Aref echoed the call for greater trade integration and said the Islamic Republic is committed to balanced trade and infrastructure development.
“Expanding relations with neighboring and regional countries is a top priority in Iran’s foreign policy,” Aref said. “We believe that the current $500 million trade volume between Iran and Uzbekistan in 2024 can and should be expanded.”
Aref emphasized the need to remove transportation and transit barriers, stating that Iran offers the most efficient route for Central Asian nations to access international waters.
He added that Iran is ready to offer its port facilities and transit capacities to regional countries, including Uzbekistan, in a bid to strengthen mutual economic growth and GDP.
Uzbekistan’s Prime Minister Abdulla Aripov, also speaking at the event, said more than 210 joint Iran-Uzbekistan factories are now operating in Uzbekistan, and promised that Iranian investors would be exempt from taxes and customs duties.
Aripov said Uzbekistan attracted $70 billion in foreign investment last year and forecasted GDP to reach $160 billion within five years. He pointed to Uzbekistan’s growing openness, tax incentives, and a strong export sector, including $2.5 billion in agricultural food exports last year.
“We have active free and preferential trade agreements with many countries, which presents further opportunities for collaboration,” he said.