OREANDA-NEWS. February 18, 2013. Valdis Dombrovskis, Prime Minister of the Republic of Latvia, congratulated Afzal Artikov, Ambassador of Uzbekistan to Latvia, on taking the Office and wished success in further strengthening of bilateral relations and cooperation in the current areas, as well as in new areas.

During the meeting the Latvian Prime Minister emphasised that there is a great potential for closer economic relations of Latvia and Uzbekistan. He particularly singled out development of transit cooperation from and to Latvia which would contribute to the economies of both countries. New initiatives in the transit and transportation sector would promote economic integration which is a key aspect for increased security, stability and economic development of the region.

Pharmaceutics, food processing, ITs, manufacturing of construction materials, education and tourism were singled out by Valdis Dombrovskis as other valuable areas for cooperation.

It is expected that the role of region of Central Asia on the international and European energy market will increase, in particular with regard to supplies of energy resources to Europe. More extensive cooperation between the EU and Central Asia is mutually beneficial as the countries of Central Asia are provided Access to a reliable market.

Relations of Latvia and Uzbekistan have been sound and pragmatic, and the sides confirmed their commitment to further develop their cooperation. Ambassador Artikov also noted that Uzbekistan sees Latvia as an important partner in the EU and NATO.

Trade indicators of Latvia and Uzbekistan:

In quarter 2 of 2012 the volume of exports to Uzbekistan amounted to 7.8 million EUR which is by 44% more than in the first half of 2011. By total trade volume Uzbekistan with 11.9 million EUR ranks as the 50th biggest Latvia’s foreign trade partner. At the end of Q2 of 2012 direct investments of Uzbekistan amounted to 3.3 million U.S. dollars. The main investment areas in Latvia included transport and communications.