Trading House of Uzbekistan (Export and Trading House “Uzbekistan”) was opened in the Latvian capital Riga, the ministry of foreign economic relations, investments and trade of the republic told Trend.

Trading House is open to enhance the flow of goods and services between Uzbekistan and the European Union.

An agreement on the opening of the Trading House was reached during the visit of the Latvian President Andris Berzins to Uzbekistan in May last year and the Uzbek-Latvian business forum held within the framework of the visit.

Business circles of Uzbekistan and Latvia have confirmed their mutual interest in increase of volumes and diversification of trade turnover, creation and joint use of shopping malls and transport and logistics centers in Latvia in order to organize a reliable system of long-term and stable supply of exports of Uzbekistan to the markets of the Baltic States.

It is expected that the Trading House of Uzbekistan will allow the Latvian enterprises to import almost any group of products from Uzbekistan using a deferred payment, or consignment.

Latvia is the third largest trade partner of Uzbekistan in the European Union. Some 22 enterprises with participation of investors from Latvia, including five companies with the absolute Latvian capital operate in the republic. Their main activities are the production of finished textile products, furniture, oil refining, printing, logistics and transport services.

More than 40 enterprises with participation of Uzbek companies were opened in Latvia.

There are agreements on economic and industrial cooperation, promotion and protection of investments, avoidance of double taxation between the countries.

/By Trend/