OREANDA-NEWS. November 18, 2013. A business forum of entrepreneurs of Uzbekistan and Latvia was held at the International Business Center in Tashkent.

The business forum was organized by the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan to further expand an Uzbek-Latvian trade-economic and investment cooperation, UzA reported.

Representatives of ministries and departments, companies and concerns of two states, working in such spheres as foreign economic relations, trade, investments, transport and transport communication, logistics, banking-financial, education, food, tourism, pharmaceuticals, textile participated at the event.

At the forum, Minister of Foreign Economic Relations, Investment and Trade of Uzbekistan Elyor Ganiev underlined that the cooperation between Uzbekistan and Latvia are gradually developing in all spheres and agreements, reached by leaders of two states, play as legal base for it. It was said that the visit of the President of Uzbekistan Islam Karimov to Latvia in October 2013 enriched relations between two nations with new content and lifted them to new level.

Uzbekistan and Latvia set the most favourable regime in trade, economy and industry. Trade turnover between Uzbekistan and Latvia grew by 20% to US6 million in 2012 and US6 million in January-June 2013.

Currently, there are 22 joint ventures with Latvian investments in Uzbekistan. Over 40 enterprises with Uzbek investments operate in Latvia. They specialize in such sectors as production of furniture, confectionery, textile, oil refining, printing, logistics, retail and service industries. Representative offices of ten companies from Latvia accredited in Uzbekistan.

Uzbekistan supplies cotton-fibre, motor oils, pharmaceuticals and other goods to Latvia. Latvia exports equipment, vehicles, plastics, and logistic services to Uzbekistan.

Minister of Transport of Latvia Anrijs Matiss said that the business forum is good opportunity to further strengthen practical cooperation of business circles of Uzbekistan and Latvia.

He said that during the state visit of the President of Uzbekistan Islam Karimov to Latvia in October 2013, several documents of cooperation were signed in transport and cargo transit, expanding trade relations, protection of environment, which will serve to further developing mutual beneficial partnership. He said that two countries have great potential in developing of cooperation in such areas as transport, transit and air transportation.

At the forum, the Latvian business persons were information about important directions of attracting investments into economy of Uzbekistan. The guests were familiarized with reforms in developing small and private businesses, created conditions at free industrial and economic zone Navoi and specialized industrial zone Angren.

The forum participants discussed issues of developing cooperation in trade, economy, investment, transport, logistics, railway, textile and food industry, attracting of Latvian companies in privatization of Uzbekistan.

The business circles of Uzbekistan and Latvia also participated in cooperation exchange to discuss implementation of mutual beneficial projects.