Uzbekistan Urged to Lift Visa Requirements for Iranians as Bilateral Trade Targets $1b

TEHRAN (Iran News) Speaking at the event, Samad Hassanzadeh, President of Iran’s Chamber of Commerce, described the forum—attended by high-ranking officials and business leaders from both countries—as a pivotal step toward deepening bilateral relations. “Over the past year, we’ve seen serious, responsible, and close cooperation between both public and private sectors of Iran and Uzbekistan,” he said, adding that a new era of mutual partnership is underway.

Hassanzadeh emphasized the cultural affinity and longstanding friendship between the Iranian and Uzbek peoples, suggesting that visa-free travel for Iranians should be implemented soon to ease the movement of people and goods. He also highlighted the need for more accessible and affordable flight options between the two countries.

He revealed that the initial target for boosting bilateral trade is to double the current $500 million to $1 billion, expressing hope that this goal can be achieved by the end of the calendar year.

Highlighting the vast economic potential in both countries, Hassanzadeh called on policymakers to match the enthusiasm shown by business communities by creating necessary infrastructure. One major area of focus, he said, should be joint investments by the private sectors of both nations. “I urge entrepreneurs and businesspeople to form industrial committees to identify shared opportunities and invest in projects where we hold a comparative advantage,” he said. The Iranian Chamber of Commerce, he added, is ready to facilitate such efforts.

Touching on recent talks over a preferential trade agreement, Hassanzadeh voiced optimism that the agreement would soon be finalized. “For two countries committed to expanding ties, high or discriminatory tariffs are unacceptable. I believe many of these barriers will be resolved shortly,” he noted.

Hassanzadeh also underlined the need for smoother financial exchanges and the removal of trade restrictions, stressing the role of sustained engagement and private-sector collaboration in overcoming these challenges.

Despite international sanctions, Iran has made notable advances in fields such as machinery manufacturing, food processing, construction materials, and industrial equipment, which he said present “golden opportunities” for regional markets, including Uzbekistan.

He noted the synergy between Uzbekistan’s large-scale infrastructure projects—especially in railways, highways, and transport systems—and Iran’s strong capabilities in technical and engineering services. Strengthening land, rail, and air transport links is a mutual priority that requires focused effort from both governments.

Hassanzadeh encouraged Uzbek investors to participate in Iran’s North-South International Corridor and the development of the Makran coast, citing Iran’s strategic location at the crossroads of East-West and North-South trade routes. He also highlighted recent progress in transport cooperation and called for a joint committee of officials from both countries to advance transport and logistics infrastructure development.

He concluded by highlighting the importance of mutual trade and exhibition delegations, saying such exchanges, along with joint seminars and exhibitions, would pave the way for increased trade and greater familiarity with each country’s economic potential. “Uzbekistan is a key trading partner for Iran,” he said, expressing hope that the forum would yield tangible results in trade, industry, and joint investment initiatives.

Meanwhile in the event, the Prime Minister of Uzbekistan declared that Iranian investors operating in Uzbekistan will be exempt from taxes and customs duties. This promise comes as the number of joint Iranian-Uzbek factories in the country surpasses 210.

During a business forum between Iran and Uzbekistan, Prime Minister Abdulla Aripov emphasized the deep cultural and historical ties between the two nations, asserting that global developments have made it increasingly important for both sides to strengthen their economic cooperation.

“Events in today’s world call for stronger collaboration,” Aripov stated. “Organizing such business forums allows both countries to better understand each other’s investment capacities and opens up new avenues for cooperation.”

He highlighted that during meetings with Iranian officials, the two sides identified the expansion of industrial collaboration and the activation of technological exchanges as top priorities. He stressed the importance of private sector engagement in realizing these objectives.

Aripov noted that while trade between Iran and Uzbekistan has reached a relatively stable level of $500 million, this figure remains below its full potential. “Despite this, we are proud that more than 210 joint Iranian-Uzbek factories are now operating in Uzbekistan—a significant achievement,” he said.

The Prime Minister also shared ambitious economic goals for his country, revealing that Uzbekistan’s GDP is projected to reach $160 billion within the next five years. In 2024 alone, the country attracted $70 billion in foreign investment—a testament, he said, to Uzbekistan’s stable and secure investment environment.

Highlighting his government’s commitment to open markets and foreign investment, Aripov mentioned that Uzbekistan exported over $2.5 billion worth of agricultural products last year and has signed numerous free trade and preferential trade agreements worldwide.

Reaffirming his country’s support for Iranian investors, Aripov stated: “We assure Iranian businesspeople that if they invest in our industrial zones, they will be exempt from taxes and customs duties. The government will also provide necessary infrastructure and guarantee the repatriation of their investment profits.”

This announcement underscores the growing economic partnership between Iran and Uzbekistan and sets the stage for deeper integration between their private sectors.