Fərid Mustafayev: There Are Great Opportunities for a New Stage of Economic Cooperation Between Azerbaijan and Uzbekistan

Fərid Mustafayev, founder of F-Holding, investor and businessman, assessed the economic prospects of Azerbaijan-Uzbekistan relations in a statement to FMedia.az regarding President Ilham Aliyev’s state visit to Uzbekistan. He stated that the high level of political trust established between the two brotherly countries provides an important foundation for further expanding economic cooperation.

According to Fərid Mustafayev, President Ilham Aliyev’s state visit to Uzbekistan creates important opportunities for relations between the two countries to enter a new stage not only politically and diplomatically, but also economically.

He noted that the high-level political dialogue established between Azerbaijan and Uzbekistan in recent years has created a strong basis for expanding economic cooperation.

“Relations between Azerbaijan and Uzbekistan are strategic today. The most important point is that political will is already creating real opportunities for expanding economic cooperation. Increasing mutual investments, establishing joint ventures, developing industrial cooperation, and expanding ties between the private sectors could become key areas in the coming period,” Fərid Mustafayev said.

According to the investor, the complementary nature of the economic opportunities of Azerbaijan and Uzbekistan creates favorable conditions for establishing new business models between the two countries.

He noted that Azerbaijan’s position in the South Caucasus and Uzbekistan’s role as one of the leading economic centers of Central Asia create additional advantages for mutual investment.

“For an investor, not only the domestic market of a country is important, but also its regional opportunities. Azerbaijan has an important position in terms of access to the South Caucasus and European markets, while Uzbekistan has a strategic position in terms of access to Central Asian markets. Combining these two opportunities could create broader regional business prospects for companies,” the founder of F Holding emphasized.

Fərid Mustafayev considers increasing mutual investments between Azerbaijan and Uzbekistan particularly important.

According to him, expanding direct contacts between entrepreneurs of the two countries, increasing the number of business forums and investment platforms, as well as promoting joint activities on specific projects could accelerate the development of economic relations.

“Interstate relations create opportunities for business, but the private sector plays a major role in turning these opportunities into real economic results. Azerbaijani and Uzbek companies should study each other’s markets more closely, develop joint projects, and establish long-term partnerships,” the investor noted.

The businessman also identified the expansion of cooperation in the industrial sector as a promising area.

According to Fərid Mustafayev, in the future, developing joint production and industrial cooperation, rather than focusing solely on trade in finished products, could generate greater economic benefits between Azerbaijan and Uzbekistan.

“The establishment of joint production facilities would allow the economic potential of the two countries to be combined more effectively. There are significant prospects here in terms of investment, technology, and access to regional markets. The main goal should be to deepen trade relations through investment and production cooperation,” Fərid Mustafayev said.

He also emphasized the particular importance of cooperation in transportation and logistics.

The investor believes that combining Azerbaijan’s position along the Middle Corridor with Uzbekistan’s economic potential in Central Asia could create new trade and logistics opportunities.

“The development of the Middle Corridor is an important opportunity for expanding economic ties between Azerbaijan and Central Asia. Azerbaijan’s transportation infrastructure and Uzbekistan’s regional economic position complement each other. There is considerable potential for developing new logistics centers, warehousing and transportation services, as well as related business sectors in this area,” he said.

Fərid Mustafayev also highlighted broad opportunities for cooperation in energy, agriculture, construction, tourism, digital technologies, and the services sector.

According to him, the implementation of joint projects, particularly in technology and digitalization, could become one of the new directions of future economic cooperation.

“Economic cooperation should no longer be limited to traditional sectors. New technologies, digital services, innovation, and high-value-added industries are the key areas of the economy of the future. Azerbaijan and Uzbekistan have the potential to implement joint projects in these fields as well,” the investor noted.

Fərid Mustafayev stated that cultural and humanitarian ties also have a positive impact on economic relations.

According to him, the historical, cultural, and spiritual affinity between the peoples of Azerbaijan and Uzbekistan is an important advantage in building mutual trust in business relations.

“One of the greatest advantages of economic relations between the two countries is the brotherhood and mutual trust between our peoples. This is also an important factor for business partnerships. Getting people and business representatives to know each other better contributes to making economic relations long-term and sustainable,” he said.

The founder of F Holding expressed his belief that the discussions held and agreements reached during President Ilham Aliyev’s visit to Uzbekistan will be followed by concrete economic projects in the coming period.

“It would be incorrect to view this visit solely as a political event. There are also very significant economic prospects here. A broad field is opening up for new investment projects, joint ventures, trade opportunities, and regional cooperation formats. The main task is to turn the political agreements reached into real business projects,” Fərid Mustafayev emphasized.

He added that the development of economic relations between Azerbaijan and Uzbekistan is important not only for the business communities of the two countries but also for the broader economic integration of the region.

“Combining the economic potential of Azerbaijan and Uzbekistan could create greater regional economic opportunities. I believe that these relations should not be viewed only from the perspective of today, but as an economic partnership for the coming decades. The political relations built on brotherhood already have all the foundations necessary to develop into a strong economic partnership,” the investor concluded.

It should be noted that President Ilham Aliyev’s state visit to Uzbekistan took place on August 23–24. During the visit, the presidents of Azerbaijan and Uzbekistan held meetings and various documents were signed. The opening ceremony of the Nizami Ganjavi National Pedagogical University in Tashkent and the groundbreaking ceremony for the “Azerbaijan” Park in New Tashkent were also held.