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Islam Karimov and Andris Berzins. Riga, 17.10.2013. Photo: president.lv

Karimov said that he saw great untapped potential in economic trade and investment fields, therefore both presidents agreed that increasing and diversifying trade in goods and implementation of joint investment projects, aimed at the creation of modern high technology companies, would be prioritized. Both countries will also make more efficient use of international transport corridors and creation of more favorable conditions for foreign trade shipments and expansion into regional markets.

"Our economies do not compete but complement each other, and we are also interested in cooperation and partnership. This means that there are no obstacles to continued growth," stressed Karimov.

The Uzbek president said that cooperation in transport and communications should be fostered in particular, taking into consideration the development of logistical and transit services.

Berzins in turn praised Uzbekistan's economic development, which proves that the economy has significant potential. Berzins also said that Uzbekistan and Central Asia region were among Latvia's priority regions in terms of development cooperation.

"Latvia is prepared for more active development of projects in those areas where the experience we have accumulated would be demanded. We can mention the Latvian Border Guard, State Revenue Service's Customs Board, and Riga Technical University's Customs Institute involvement in Central Asia as successful examples," said Berzins.

In the first half of 2015, when Latvia will hold the European Union Council presidency, consolidating EU-Central Asia relations will be high on Latvia's agenda, added Berzins. "We agreed with Mr. President that it is important to further enhance the relations between the EU and Uzbekistan by introducing the EU-Central Asia Strategy," said Berzins.

He confirmed Latvia's support for Uzbekistan's intention to join the World Trade Organization. The presidents emphasized both countries' willingness to foster peace and stability, and to create an environment of trust and mutual understanding on the regional and international levels. Both countries must closely cooperate within the United Nations and other international organizations, said Berzins and Karimov.

Berzins also noted Latvia's contribution to rebuilding Afghanistan. "Together with the allies, Latvia will continue to contribute to the development of the Afghanistan security forces after 2014," he said.

Berzins went on to say that the volume of Latvian-Uzbek trade had increased 45.46 percent, and that the total number of Latvian-Uzbek joint ventures had increased to 343.

"I am pleased that businessmen in both countries are greatly interested in the cooperation between our countries. The Latvian-Uzbek Business Forum on October 15 brought together more than a hundred participants. I have been informed that several agreements were signed and cooperation projects agreed upon, which will commence in the coming days while the Uzbek delegation is still visiting Latvia," said Berzins.

Berzins also mentioned cooperation in education. "Latvia can offer Uzbek students the opportunity to receive EU-level education. It is commendable that Uzbekistan is in fifth place in terms of foreign students who study in Latvia. The total number of Uzbek students in Latvia reached almost two hundred in the current academic year," said Berzins.

The two presidents said they were determined to expand Latvian-Uzbek cooperation in culture via exchanging various culture and art programs and visits, as well as education, healthcare, sports and tourism programs.

Berzins and Karimov said that the two countries' cooperation would be intensified to counter terrorism and extremism, drug trafficking, international organized crime and other challenges and threats of the present day.

Concluding his address, Karimov said that he had invited Berzins to visit Uzbekistan. "This is the first time I meet with Berzins. I had the impression that he is a very sincere person who loves to have guests. I can see that he has a very open heart, and that he is trying very hard to protect Latvia's interests," added Karimov.