Iran and Uzbekistan plan to sign a preferential trade agreement next month during a joint economic commission meeting, a move expected to enhance trade cooperation between the two countries, according to the president of Iran Chamber of Commerce, Industries, Mines and Agriculture.

Samad Hassanzadeh, speaking at a meeting with Shokhrukh Gulamov, Uzbekistan’s Deputy Minister of Investment, Industry, and Trade, said the upcoming agreement could significantly elevate bilateral trade.

“The current trade volume of nearly $500 million does not reflect the real potential of the two countries,” Hassanzadeh said. “Iran’s private sector, represented by the Chamber, is fully ready to take all necessary steps to increase trade.”

He highlighted the upcoming Iran Expo, starting April 28, where a business delegation from Uzbekistan is expected to participate. Hassanzadeh pointed to Iran’s industrial and economic capacities—particularly in engineering services, petrochemicals, oil, food industries, and automobile manufacturing—as areas with strong potential for cooperation.

Stressing Iran’s commitment to strengthening ties with neighbors and countries worldwide, he added that the private sector is equally determined to support this strategy.

The Iran chamber of Commerce president also called for the reciprocal removal of visa requirements for Iranian citizens by Uzbekistan, arguing it would ease travel for businesspeople and boost tourism.

He noted that Iranian companies are particularly interested in joint investments in Uzbekistan’s textile and apparel sectors. Hassanzadeh expressed hope that with closer collaboration between the two countries’ chambers of commerce, trade volume could reach $1 billion.

Uzbekistan’s Deputy Minister Gulamov echoed the sentiment, stating that the historical and cultural ties between the two nations form a strong foundation for enhanced cooperation and joint investment.

“More than 100 Uzbek companies, led by the president of our Chamber of Commerce, will participate in Iran Expo. This reflects the importance of Iran for Uzbekistan,” Gulamov said.

He welcomed Iranian private sector investment in Uzbekistan and outlined an ambitious goal: “With the existing capacities, we should aim to increase trade volume to $5 billion.”