OREANDA-NEWS.  September 30, 2013. The Fourth session of the Uzbek-Latvian intergovernmental commission on economic, industrial and scientific-technical cooperation was held in Tashkent.

The session was organized within the visit of the business circles of Latvia led by the State Secretary of the Ministry of Economics of the Republic of Latvia Juris Puce to Uzbekistan.

During the meeting, the sides familiarized with perspectives of bilateral cooperation in various sectors of economy, including economy, investment potential of Uzbekistan, opportunities of investment cooperation, including Navoi free industrial and economic zone and Angren special industrial zone.

The sides underlined mutual interest in increasing the volume and diversification of structure of bilateral trade.

On the same day, the business forum of entrepreneurs of Uzbekistan and Latvia was held. The sides exchanged opinion on economic potential of two states and fully using existing opportunities.

The sides considered issues of developing trade-economic and investment cooperation, attracting Latvian companies in privatization process in Uzbekistan.

The visits of the President of Uzbekistan Islam Karimov to Latvia in June 1995 and April 2004 served to development of relations between Uzbekistan and Latvia. During the visits, the sides reached agreement on expanding bilateral cooperation in politics, trade-economic, military-technical and cultural-humanitarian spheres.

Uzbekistan and Latvia signed an agreement on friendship and cooperation (6 June 1995), agreements between the Governments of Uzbekistan and Latvia on air communication, on principles of cooperation in transport, on cooperation in tourism, etc.

Within the visit of the President of Latvia Valdis Zatlers to Uzbekistan in October 2008, the countries signed intergovernmental and inter-departmental agreements “On cooperation in preventing and liquidation of emergency situations”, “On cooperation in accreditation”, “On cooperation in standardization”, “On exchange of information in protection of industrial property”, “on joint administrative cooperation and exchange of information in tax spheres”, etc.
The intergovernmental commission on economic cooperation held three session between 2008 and 2012. The sides set cooperation relations in transit of cargo, pharmaceuticals, tourism, agriculture, food, tourism and other sectors.

Uzbekistan and Latvia set the most favourable trade regime. Trade turnover between two nations reached US3.2 million in 2012 and US5.6 million in Janaury-June 2013.

There are 22 enterprises with Latvian investments in Uzbekistan, including six enterprises with 100% Latvian capital. They operate in such areas as furniture production, textile, oil and gas processing, polygraph, food production, logistics services, etc.

Currently ten Latvian companies accredited their offices at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan.