Evaluation of the Economic Relations between Turkey and Uzbekistan

Abstract

This paper aims to analyze the economic relationship between Turkey and Uzbekistan, placing special importance on trade relations. To this end, the data of selected macroeconomic indicators, selected development indicators, selected demographic indicators and indicators for technology and communication, tourism and foreign direct investments are reported and examined. In order to analyze the trade patterns between Turkey and Uzbekistan, as a contribution to the existing literature, in this paper, we will use a complementarity index and bilateral revealed comparative advantage indexes simultaneously to evaluate the trade relations between Turkey and Uzbekistan in detail. The findings of the paper show that there is huge potential to further develop economic relations between Uzbekistan and Turkey. Strengthening and developing Uzbekistan-Turkey relations will create gravity for the other countries in the region and will play a key role in sustaining not only the relations between Turkey and the regional countries, but the relations among the regional countries.