Baltic States – CIS, Economics, Forum, Latvia, Legislation, Markets and Companies

Representatives of ministries and agencies, companies of two states, responsible for foreign economic relations, trade, industry, transport, investments, environmental protection, science and education, agriculture and water management, food industry, healthcare, tourism, information technologies, railways, airways, logistics, construction and others participated in the event.

Minister of foreign economic relations, investments and trade of the Republic of Uzbekistan, co-chairman of the commission Elyor Ganiev underlined that cooperation between Uzbekistan and Latvia has been developing in all spheres, in particular, in trade-economic, industrial and scientific-technological spheres. The agreements, reached during the meeting of the heads of state of the two countries, serve as an important legal basis. The state visit of President of the Republic of Uzbekistan Islam Karimov to Latvia in October 2013, the official visit of President of the Republic of Latvia Andris Berzins to our country in May 2014 contributed to improving dynamically developing ties to qualitatively new levels.

Trade turnover between Uzbekistan and Latvia made up US$245.7 million in 2014 and about US$135 million in nine months of 2015.

There are 32 enterprises with Latvian capital in Uzbekistan, which work in such spheres as furniture, oil processing, textile, production of confectionary products, processing agriculture goods, services, transport, etc. Sixteen Latvian companies have their representative offices in Uzbekistan.

At the event, the sides considered issues of bilateral cooperation, including current state and perspectives of trade-economic relations, further expanding of legal base, developing cooperation in investments, transport, communication, tourism, etc.

Uzbekistan and Latvia expressed mutual interest in increasing the volume of trade turnover, expanding wide-scale trade-economic, investment and scientific-technical partnership.

The Latvian side received information on economic policy of Uzbekistan, created conditions for foreign investors, opportunities at free industrial zones Navoi, Jizzakh and Angren.

On the same day, business circles of two states participated in the business forum. The businesses of Uzbekistan and Latvia discussed issues of economic and investment potential of two states and expanding use of existing opportunities.

The participants exchanged views on further development of cooperation in the field of science and technology, import and export, cargo transportation, food industry, attracting Latvian companies to the privatization process in Uzbekistan.

Source: UzA