On February 9 this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov met with the Minister of Foreign Affairs of the Republic of Latvia Edgars Rinkevics, who is in Uzbekistan as part of a visit by a delegation of Latvian government and business circles.
During the meeting, topical issues of bilateral cooperation were considered, including in the areas of investment, trade, transport and logistics, as well as in other priority areas.
The growing interest of Latvian enterprises in business development in Uzbekistan was emphasized: for example, over the past five years, the number of enterprises in the country with the participation of Latvian capital has doubled. Mutual readiness for active cooperation was expressed to support the investment activities of the Latvian business circles in the implementation of projects in Uzbekistan.
Significant prospects for expanding trade cooperation were noted – Latvia is one of the largest trading partners of Uzbekistan among the countries of the European Union. Over the past five years, trade between the two countries has almost doubled. The parties welcomed the opening of a trading house of Uzbekistan in Riga in September 2021 and expressed the hope that this step will give an additional impetus to deepening trade relations between the two countries. In this vein, an agreement was reached to hold a joint industry exhibition and business forum in Latvia soon to establish direct ties between entrepreneurs of the two countries and explore opportunities for expanding investment and trade cooperation.
Issues of deepening cooperation in the transport and logistics sector were considered separately. The parties welcomed the holding of the 1st meeting of the Uzbek-Latvian Working Group on Transport on February 7 this year, which resulted in the signing of the Protocol of Understanding between the Ministries of Transport of the two countries and the Roadmap for the development of practical cooperation in the field of transport and logistics between Uzbekistan and Latvia. In this vein, opportunities were noted for expanding the volume of exports of products of Uzbek manufacturers to the EU countries through the use of the logistics infrastructure of Latvian ports.
Emphasizing a wide range of areas of bilateral cooperation, the meeting participants noted the relevance of developing a dialogue on the platform of the Uzbek-Latvian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation and discussed the issue of holding its next meeting in the second half of this year.
Also during the conversation, aspects of interaction in other areas of mutual interest, such as digital technologies, innovations and start-ups, forestry and ecotourism, were touched upon.
As a result of the meeting, an agreement was reached on the mutual promotion of the discussed areas of cooperation and active interaction in the implementation of joint projects and initiatives.
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