Tashkent, Uzbekistan (UzDaily.com) — Iran is prepared to supply steel products and provide engineering services to Uzbekistan, the head of the Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) stated during a meeting with the head of the Uzbekistan Metallurgy Association, according to Tehran Times.

Mohammad Aghajanlu, who also serves as Iran’s Deputy Minister of Industry, highlighted Iran’s experience in constructing a sponge iron plant in Kazakhstan and emphasized that Iranian companies are ready to export technical and engineering services to Uzbekistan.

He added that IMIDRO and its subsidiaries can supply products across the metallurgical chain, including copper and aluminum, while also offering engineering services, IRIB reported.

Aghajanlu noted that Iran has the capacity to produce 50 million tons of steel per year and can export over 10 million tons using domestic technologies. He stressed that Iranian mining and metallurgical companies are ready to supply Uzbek partners with guaranteed-quality products, leveraging Iran’s developed logistics and southern port infrastructure to support trade.

Gulbahor Tojimirzaeva, Chairperson of the Uzbekistan Metallurgy Association, said Uzbek companies plan to purchase up to 300,000 tons of Iranian steel by the end of the year, emphasizing Iran’s high level of technological expertise in the sector. She also mentioned the potential for building Iranian metallurgical plants in Uzbekistan and confirmed that both sides are ready to sign cooperation agreements.

The meeting at IMIDRO headquarters, attended by Iranian mining companies, signaled strengthened economic ties between Tehran and Tashkent and increased Iranian exports to Central Asia.

Earlier in June, Iran’s Mazandaran province opened a trade center in Tashkent. The opening ceremony, held in the Food City district, was attended by the Iranian Ambassador to Uzbekistan Mohammad-Ali Eskandari, ICCIMA board member Abdollah Mohajeri, and Sari Chamber of Commerce Chairman Ali Takipur.

Speaking at the event, Ambassador Eskandari stated, “The Mazandaran Trade Center in Tashkent will further develop economic and trade relations between Iran and Uzbekistan. Merchants from this province will offer the Uzbek market high-quality Iranian goods at competitive prices.”

Abdollah Mohajeri added, “Uzbekistan is an important country for Iran. The opening of this trade center in Tashkent will benefit both sides.”

In February, the head of the Joint Iran-Uzbekistan Chamber of Commerce announced the opening of a permanent office in Tashkent for Iranian food products, noting that FATF-related restrictions remain the main obstacle to trade. According to ICCIMA, Musa Agai confirmed that the office was established in cooperation with the Mazandaran Chamber of Commerce and the Joint Iran-Uzbekistan Chamber of Commerce. He stressed that the initiative would significantly strengthen bilateral cooperation.

Agai also noted that the current trade volume between Iran and Uzbekistan, at US$500 million, is unsatisfactory. Despite Uzbek entrepreneurs’ and authorities’ desire to expand cooperation with Iranian businesses, obstacles such as FATF restrictions, transport difficulties, and high tariffs remain.

During the Iran-Uzbekistan Business Forum held alongside the Joint Economic Committee meeting at Tehran’s Saadabad Palace in mid-May, ICCIMA head Samad Hasanzade called for increasing bilateral trade to US$1 billion and lifting visa requirements for Iranian citizens to facilitate travel and business contacts. Hasanzade described the event as an important step in strengthening ties, noting that cooperation between state and private entities in both countries intensified last year.

He highlighted the cultural closeness and historical friendship between the peoples, calling for the swift introduction of a visa-free regime, improved air links, and lower airfare costs. Citing Iran’s achievements despite sanctions, particularly in machinery, food processing, and construction materials, Hasanzade stressed the unique opportunities these present for Uzbekistan.

He emphasized Iran’s strategic geographic position at the intersection of the “North–South” and “East–West” international transport corridors and invited Uzbek investors to participate in developing the International North–South Transport Corridor (INSTC) and coastal projects on the Makran coast. Hasanzade also proposed expanding cooperation in transport and logistics through a joint committee and reaffirmed Iran’s readiness to export technical and engineering services and participate in major infrastructure projects in Uzbekistan.

He reported significant progress in negotiations on a preferential trade agreement between the two countries, expressing hope it would soon come into effect, eliminate discriminatory tariffs, and stimulate exchange. Hasanzade concluded by emphasizing the need to remove financial barriers and banking restrictions through more active private-sector engagement and encouraged joint investments in industry alongside regular trade missions, exhibitions, and seminars.

Senior officials from Iran and Uzbekistan convened in Tehran for the 16th session of the Joint Economic Committee to expand bilateral ties and raise annual trade to US$2 billion. Iranian Minister of Industry, Mining, and Trade Mohammad Atabak opened the session, noting that the current trade level does not reflect the true potential of either side.

He called for a “fundamental transformation” and proposed developing a practical roadmap to achieve the US$2 billion target. Atabak stressed the need to develop transport and transit infrastructure, citing Iran’s strategic position as a key corridor connecting Uzbekistan to global seas. He also highlighted the importance of banking ties, direct flights, reduced customs tariffs, and support mechanisms for economic relations.

Beyond trade, the committee discussed cooperation in tourism, science, culture, and healthcare. Atabak noted the deep cultural connections between the countries and expressed Iran’s readiness to take a more active role in developing tourism, emphasizing that the session serves as a platform for comprehensive engagement.

The Uzbek Minister of Industry highlighted favorable conditions for expanding trade with Tehran and reported the signing of a list of goods eligible for preferential treatment, calling it a “practical step” toward increasing exchange. He also announced the official opening of the Uzbekistan Trade House in Tehran to support trade. Over the past five years, the number of joint Iran-Uzbek companies has grown 2.5 times, reaching 261, operating in construction, petrochemicals, food, agriculture, and building materials sectors.

The minister confirmed Uzbekistan’s commitment to expanding economic and trade cooperation with Iran across multiple sectors. At the same forum, Uzbek Prime Minister Abdulla Aripov announced that Iranian investors operating in the country would be exempt from taxes and customs duties, noting that over 210 joint Iran-Uzbek enterprises are already active. He emphasized the importance of deepening economic cooperation, citing strong cultural and historical ties and a changing global context as key factors for closer collaboration.

Although trade between the countries has stabilized, Aripov noted that the current US$500 million annual volume does not reflect true potential. He projected Uzbekistan’s GDP reaching US$160 billion within five years, noting that US$70 billion in foreign investments were attracted last year, indicating a stable investment climate. He reaffirmed the government’s commitment to developing a market economy, stimulating production, and expanding foreign trade, assuring Iranian entrepreneurs that investments in industrial zones would be tax- and duty-exempt, with state-provided infrastructure and guaranteed profit repatriation.

On April 23, Iranian Minister Mohammad Atabak stated that private-sector cooperation between Iran and Uzbekistan would continue at an accelerated pace during a meeting with the Uzbekistan Chamber of Commerce delegation in Tehran. He emphasized that positions of entrepreneurs from both countries are considered in expert working groups and noted that some agreed-upon goods have already been delivered to Uzbekistan. He confirmed that private-sector exchanges and interactions would continue at an accelerated pace, with both countries’ economic and industrial potential allowing a significant increase in trade volume.

In a meeting with Uzbekistan’s Deputy Minister of Industry, Trade, and Investment, Shokhrukh Gulyamov, ICCIMA head Samad Hasanzade affirmed that Iran’s private sector is ready for joint investments in Uzbekistan and called on Tashkent to introduce reciprocal visa-free travel to facilitate tourism and business. He stressed that lifting visas would support tourism and simplify travel for entrepreneurs and citizens alike.

Hasanzade added that the upcoming preferential trade agreement, expected to be signed at the next Joint Economic Committee meeting, could elevate cooperation to a new level. He noted that the current US$500 million trade volume does not reflect the countries’ potential, stating, “The Iranian Chamber of Commerce, as a representative of the private sector, is ready to take all necessary steps to increase trade turnover.”

He emphasized that both the Iranian government and private sector aim to expand cooperation with all countries, especially neighbors, and that historical, religious, and cultural ties provide a foundation for broader economic, cultural, and academic collaboration. He welcomed Uzbekistan’s decision to cancel the US$400 transit fee for trucks, calling it a positive step toward expanding cooperation within the North–South international transport corridor.

Hasanzade again urged lifting visa requirements for Iranian citizens, noting this would be particularly beneficial for medical tourism, healthcare, and pharmaceuticals, where Iran has strong expertise. Highlighting investment interests, he stated that Iran’s private sector is especially interested in investing in Uzbekistan’s textile and garment industry, expressing hope for the necessary support for these investments. Concluding, Hasanzade expressed optimism that strengthened cooperation between chambers of commerce could raise trade volume to US$1 billion.