Uzbekistan – Latvia: further improvement in cooperation

On February 9, 2022, Sardor Umurzakov, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, met with Edgars Rinkēvičs, Minister of Foreign Affairs of the Republic of Latvia, who currently is in Uzbekistan, as part of the visit of a delegation of Latvian government officials and businessmen.

During the meeting, the sides addressed topical issues of bilateral cooperation in investment, commerce, transport and logistics and other priority areas.
The fact that the interest of Latvian companies in business development in Uzbekistan is growing was highlighted. To illustrate, the number of enterprises with Latvian capital in the country has doubled in the last five years. The sides expressed alacrity to actively cooperate with the Latvian business community to support investment activities in the implementation of projects in Uzbekistan.

Requisite prospects for expanding trade cooperation were considered. Latvia is one of Uzbekistan's largest trading partners in the European Union. In the last five years, trade between the two countries has almost doubled. The parties welcomed the opening of the Uzbek Chamber of Commerce in Riga in September 2021 and expressed hope that this step will further contribute to the deepening of trade relations between the two countries.

In this regard, it was agreed to hold a joint network exhibition and business forum in Latvia in the short run to explore opportunities for establishing direct contacts between businessmen of the two countries and expanding cooperation in investment and commerce.