Uzbek and Latvian entrepreneurs held a business forum in Tashkent on 9 October.

The event was attended by heads of the two countries’ ministries and departments, companies and concerns dealing with the economy, agriculture, transport, road communications, logistics, mining, metal and timber processing and construction.

The chairman of Uzbekistan’s Chamber of Commerce and Industry, Alisher Shayxov, noted that agreements that the two heads of state reached at [previous] meetings served as an important legal basis for the development of trade and economic relations between the two countries.

"We made sure once more that your country has a favourable investment environment, necessary conditions and privileges for doing business with foreign investors," said Andris Gutmanis, director-general of the Latvian Chamber of Commerce and Industry. "Latvia pays special attention to cooperation with Uzbekistan. We believe that today’s talks will strengthen our relations."

During the forum, the Latvian entrepreneurs were given detailed information on attracting investments to priority sectors of our country’s economy. The guests became acquainted with privatization processes, ongoing gradual economic reforms, changes in the development of small business and private enterprise.

Trade and economic cooperation between our countries is developing step by step. Trade in 2006 was worth US$82.2 million, while it amounted to US$67.1 million in January-August of this year alone. Twenty joint ventures involving Latvian investments function in Uzbekistan. They specialize in textile, radio communications, production of electronic goods and furniture, machine-building, and pharmaceutics.

Trade and economic, as well as investment cooperation between the two countries were talked over in the business forum. In particular, the sides discussed metal and wood processing, logistics, agriculture, construction, textile, electrical engineering, light industry, tourism development, as well as attracting Latvian companies to the privatization process in our country. The importance of strengthening cooperation between Uzbekistan and Latvia was noted during the meeting.

At the end of the business forum, a cooperation fair was held involving a number of Uzbek companies and Latvian entrepreneurs.