Representatives of ministries and departments, firms and companies, operating in various sectors of economy of Uzbekistan and Latvia, participated at the session of the commission.

Participants considered issues of further increasing the volume of trade turnover between Uzbekistan and Latvia and expanding trade products, perspectives of further developing banking-financial relations, cooperation in small and private business and establishing direct business contacts.

According to the State Statistics Committee of Uzbekistan, trade turnover between Uzbekistan and Latvia decreased from US$238.2 million in January-September 2008 to US$119.5 million in the same period of 2009. Fall of trade turnover is connected with reduction of exports of Uzbekistan to Latvia from US$171.4 million to US$43.8 million. At the same time, imports rose from US$66.8 million to US$75.5 million. Trade turnover between Uzbekistan and Latvia made up US$256.8 million in 2008.

Currently, twelve enterprises with Latvian capital operate in Uzbekistan. They work in such sectors as production of furniture, textile production, manufacturing of confectionary goods, oil processing, wholesale trade and service. Offices of sixteen Latvian firms were accredited in Uzbekistan.