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Uzbekistan, Latvia Embark on New Phase of Cooperation

Uzbekistan, Latvia Embark on New Phase of Cooperation

23.10.2013
UzA, 18 October 2013

     As it has been reported earlier, President of the Republic of Uzbekistan Islam Karimov traveled October 16-17 to the Republic of Latvia with a state visit on the invitation of President Andris Berzins.
     The visit’s major events were due October 17.
     The official meeting ceremony of the high ranking guest took place at the palace of the Latvian President.
     During the negotiations, the heads of our two states discussed the current state and prospects of bilateral relations and examined the major dimensions of cooperation in political, financial and economic, cultural and humanitarian areas. The two leaders exchanged views also on current issues of regional and international affairs.
     It was stressed that Uzbekistan and Latvia are important reliable partners for one another and that the two nations maintain enduring, traditionally robust, close and friendly ties instrumental for prolific interaction.
     Noteworthy is that the talks started with a bright occasion, namely, the President of the Republic of Uzbekistan has been rewarded with Latvia’s highest state award – the “Cross of Gratitude” Order of the first degree, while the President of the Republic of Latvia has been prized with the Order “Buyuk Khizmatlari Uchun” (For Great Services) of Uzbekistan. This implies, on the one hand, the reciprocal acknowledgement of services rendered by the heads of our two states to the development of bilateral relations, and on the other, it underscores the community of aspirations and shared interest in the further enhancement of cooperation.
     The interaction between Uzbekistan and Latvia is built on a solid agreement base. Since the establishment of diplomatic relations in 1992, in excess of four dozens interstate treaties and intergovernmental agreements have been signed between our two nations across practically the entire spectrum of cooperation areas.
     The inter-parliamentary bonds have also been evolving dynamically; the legislatures regularly exchange visits, while the existing expertise in the lawmaking activity has been undergoing mutual study and enrichment. A group of cooperation with Uzbekistan’s Oliy Majlis was established in 2010 in the Latvian Saeima. Likewise, a group of cooperation with Latvia’s legislative body was instituted in the Uzbek parliament in June 2012.
     Constructive and regular consultations are established between foreign affairs ministries of the two countries.
     During the talks, the two parties covered interaction issues in combating terrorism, extremism, drug trafficking and in search for meaningful answers to other contemporary threats and challenges. The Latvian side highly appraised the assistance being provided by Uzbekistan to Afghanistan in the economic and social rehabilitation of that country as well as the cooperation of Uzbekistan with nations contributing to the international coalition for security assistance.
     The two parties underlined the similarity and closeness of their perspectives and stances on all the issues under discussion.
     The leaders of Uzbekistan and Latvia concentrated their attention on issues of trade-economic, investment and humanitarian cooperation.
     Notwithstanding the rather vast distance between our two countries, an active interaction has been established in the sphere of transport and communications (including automobile and other international shipping), education, science, agriculture, accreditation and metrology, information technologies, tourism and other areas.
     A sustainable agreement and normative foundation has been said to be created to further the economic dialogue.      Agreements on economic and industrial cooperation, on assistance and protection of investments as well as those on avoiding double taxation are in force between our two countries.
     Latvia is one of Uzbekistan’s chief trade partners in the European Union. Owing to the secured most-favored nation regime, the mutual trade turnover grew by almost 20 percent in 2012 to exceed 246 million US dollars, while in the first half of the current year it has already made 126 million dollars.
     Uzbekistan supplies Latvia with high quality cotton fiber, engine and oil lubricants, pharmaceutical goods and other types of produce. And the imports from Latvia largely constitute equipment, vehicles, plastic materials as well as logistic services.
     Investment cooperation has been expanding, as well. To date, 22 enterprises with Latvian investments are operating in Uzbekistan, while more than 40 entities have been opened in Latvia with the involvement of Uzbek companies.
     Our two countries continue with the implementation of important joint projects in transport and communications, scientific and technical development, tourism, education and healthcare. The high intensity of these schemes and the considerable accomplishments being made in their realization are considered a major outcome of the regular dialogue at the highest level as well as the contacts between government representatives and business circles.
     As it was underscored, Uzbekistan and Latvia wield a remarkable potential in the economic sphere. The two sides addressed issues related to the even more effective use of the capacities of our two countries.
     It is noteworthy that Uzbekistan and Latvia are identical ranking economic partners. The two economies are mutually complementary. This argument is backed by the results of the participation of Uzbek companies in the international exhibition Riga Food-2013 that took place last September. As part of that exposition alone, contracts and agreements worth more than 100 million US dollars were inked for the supply of fruits and vegetables from Uzbekistan to Latvia and other European nations.
     Also stressed was the significance of bolstering bilateral interaction in such an important sector as transport and communications. The two countries face the challenge of cashing in the transit potential to a maximum effect in order to raise the competitiveness of the functioning transport corridors for access to major regional and global markets.
     Uzbekistan and Latvia also boast immense cooperation potential in agriculture, tourism, science, education and healthcare.
     The Uzbek side said it is interested in the attraction of Latvian entrepreneurs to the interaction in travel industry, in the exchange of expertise in training specialists in this sphere.
     Uzbekistan’s such cities as Samarkand, Bukhara, Khiva, Tashkent, Shahrisabz are well known to the people of      Latvia and the Baltic states in general. The magic world of brilliant colors in the ancient Maverannahr, its rich history and traditions make everyone wish to return to these lands once they visit them.
     A business forum took place in Riga as part of the state visit of the President of Uzbekistan. It served as a platform to discuss opportunities for joint business in Latvia and Uzbekistan, new aspects of cooperation, development of logistics industry in Latvia in the interests of Uzbekistan, and the food industry in Uzbekistan oriented to consumers in Latvia.
     The importance of direct work of business circles has been underlined. This, for instance, is going to facilitate the satiety of the Baltic market with outstanding produce that meets all requirements of the EU. It is obvious that if any Uzbek-origin product is sold today in Latvia, it is not always imported directly, but supplied through third countries.      Such a practice triggers growth in the cost of Uzbek goods. Uzbekistan could supply not only foods to the Baltic market, but also dried fruits and vegetables, including for the commercial fleet. It is a prerogative of business, and thus the two sides agreed to urge businesspeople for action on this front. The agreement base is there for this to work in full swing, and everything is contingent on direct contacts.
     Equally steady has been the evolution of cooperation in the cultural and humanitarian area. The erection of monuments to our great ancestors – to the celebrated scholar and statesman Mirzo Ulughbek in 2004 and the outstanding physician and philosopher Abu Ali Ibn Sino in 2006 – in Riga is suggestive of the high reverence the Latvian people feel toward the Uzbek people and the richest scientific, cultural and spiritual heritage of our nation.
Partnership ties have been enlarging between the two capital cities. So have the creative contacts between the Alisher Navoi State Academic Grand Theater of Uzbekistan and the Latvian National Opera House. Regular have been art and photo exhibitions, film days, concerts, while folk groups from the two countries take part in various cultural events held in Uzbekistan and Latvia, respectively. Notably, musicians from Latvia are recurrently present at the Sharq Taronalari International Music Festival in Samarkand.
     Especially significant has been the interaction in the education sphere. Uzbekistan comes fifth in terms of the number of international students attending Latvian higher education institutions. Some 200 young people from our country study currently in this nation’s universities.
     The negotiations in Riga produced a Joint Declaration of President of the Republic of Uzbekistan and President of the Republic of Latvia. In addition, documents on cooperation in healthcare, environmental protection, transport and transit of freight, along with the expansion of commercial ties, tourism and investments have also been signed.
     President Islam Karimov traveled to the Saeima of Latvia and held talks with Speaker Solvita Aboltina.
The head of our state enquired into the activities of the Latvian parliament.
     The leader of Uzbekistan and the chief lawmaker of Latvia addressed issues relating to the development of inter-parliamentary cooperation between our two countries.
     The Uzbek President met also with Latvia’s Prime Minister Valdis Dombrovskis, where the discussion topics included practical aspects in the implementation of agreements reached during the visit.
     Accompanied by the President of Latvia Andris Berzins, President Islam Karimov laid wreath to the Monument of Liberty and paid tribute to the memory of those who fell for the freedom of Latvia.
     This concluded the state visit of President of the Republic of Uzbekistan Islam Karimov to the Republic of Latvia.
     The outcomes of the visit will indisputably afford a new impetus to the advancement of relations between our two countries and elevate them to a qualitatively new level.
 

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7.1. Plastic card of legal entity and individual entrepreneur (corporate card) in national currency

7.1.1 Issue of 3-year main/ additional card

80,000 UZS, including VAT

7.1.2 Extension of the validity of main/ additional card

80,000 UZS, including VAT

7.1.3 Reissue of main/ additional card in case of loss/ damage

80,000 UZS, including VAT

7.1.4 Reissue of main /additional card in case of technical malfunction

no commission fee

7.1.5 Penalty for loss/damage of main/ additional card

80,000 UZS, including VAT

7.1.6 Balance replenishment on the special Uzbek Soum card account of legal entity/individual entrepreneur (according to the applicable legislation)

0.5% of the amount transferred

7.1.7 Submission of the statement on money accounting on the corporate card

50,000 UZS, including VAT

7.1.8 Card registration in the stop list

no commission fee

7.1.9 Leasing of payment terminals to trade and service enterprises for accepting payment from UZCARD plastic cards and International payment cards, including:

a) to legal entities

25,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

b) to individual entrepreneurs

15,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

c) to Home Unit Companies

25,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

7.1.10 Processing of HUMO payment cards transactions of trade and service enterprise (acquiring)

0.2% of the transaction amount

7.2 Bank card of legal entity and individual entrepreneur in foreign currency (international)

7.2.1 Issue (emission) of main / additional card

a) Visa Business

UZS 230,000, including VAT

- minimum balance and down payment (unchanged until the card account is closed)

USD 100

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

- minimum balance and down payment (unchanged until the card account is closed)

USD 100

c) Masterсard Business

UZS 1,200,000, including VAT

: For MasterCard, if the card currency differs from the transaction currency, the amount of 2% will be temporarily blocked

7.2.2 Reissue of main / additional card (after expiration of the card, to change the client's name, in case of card loss/damage, password loss, suspicion of fraud):

a) Visa Business

UZS 230,000, including VAT

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

c) Masterсard Business

UZS 600,000, including VAT

7.2.3 Penalty for loss / damage of main / additional card, and for the card non-return by the client to the bank, including when applying for closing the special card account:

a) Visa Business

UZS 230,000, including VAT

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

c) Masterсard Business

UZS 600,000, including VAT

7.2.4 The processing of transactions on cash receipt at terminals or ATMs abroad the Republic of Uzbekistan from the card issued by the National Bank

1% of the amount

7.2.5 Processing of transactions on non-cash payment for goods and services in the infrastructure of another bank (terminal/imprinter/ATM/self-service terminal/Internet, etc.) from the card issued by the National Bank:

a) Visa Business

no commission fee

b) Visa Business to an individual entrepreneur

no commission fee

c) Masterсard Business

No commission fee

Note: For MasterCard, if the card currency differs from the transaction currency, the amount of 2% will be temporarily blocked

7.2.6 Registration of the card in the Global stop list upon the Client's request

no commission fee

7.2.7 Reimbursement of expenses for the withholding by another bank of the card issued by the National Bank

1,15 Basic Estimated Amount, including VAT

7.2.8 Reimbursement of expenses for the transfer by the acquiring bank of the withheld card issued by the National Bank

Postal and telegraph expenses

7.2.9 Submission of an international card account statement on the official letterhead of the Bank

UZS 60,000, including VAT

7.3 For trade and service companies serving clients with cards in foreign currency

7.3.1 Processing of transactions of retailer and service outlet using international cards (VISA, MasterCard, UnionPay International, etc.):

a) Through a POS terminal in a trade and service enterprise and an EPOS terminal (according to an e-commerce project): - for cards issued by NBU JSC;
- for cards issued by other banks of Uzbekistan;
- for cards issued by foreign banks

1% of the transaction amount on the day of receiving coverage from international payment systems;
1.5% of the transaction amount on the day of receiving coverage from international payment systems;
3% of the transaction amount on the day of receiving coverage from international payment systems

b) Via a POS terminal installed in hotels

2.5% of the transaction amount on the day of receiving coverage from international payment systems

7.3.2 Penalty for the recovery of information on transactions against supporting documents submitted by the trade and service company

1% of the transaction amount

7.3.3 Penalty for loss and/or damage of payment terminal which can not be repaired

Actual cost of the terminal + 1,15 Basic Estimated Amount, including VAT

7.3.4 Processing (acquiring) of transactions of trade and service enterprises using HUMO/UZCARD payment system

a) On international cards through the payment system "UzCard"

0,2% of the transaction amount

b) VISA, MasterCard and UPI international cards, through HUMO payment system. When servicing international cards (VISA and MasterCard), a commission of 1.5% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

1% of the transaction amount. When servicing international cards (VISA and MasterCard), a commission of 1.5% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

c) VISA, MasterCard and UPI international cards, through UzCard payment system. When servicing international cards (VISA and MasterCard), a commission of 2% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

1% of the transaction amount

d) MIR international cards, through UzCard payment system

0.5% of the transaction amount

e) For payment transactions for products, works and services at trade enterprises using ‘Tez QR’ through ‘UZCARD’ payment system
Effective from May 1, 2024.

1% of amount

7.3.5 Processing transactions of a merchant conducted through the NBU's E-POS terminal*

a) By UzCard Sumy Plastic Cards

0,8% of the transaction amount

b) By HUMO / Visa UZS plastic card / UZS electronic wallet

0,5% of the transaction amount

7.3.6 The processing of transactions of retailer and service outlet via QR-Online system

0,15% of the transaction amount

*When the retail and service outlet pays for this service, the commission specified in subparagraph 5.1.12 of section 5 “Remote Services” of the tariff for commission fee for individuals is not charged to the client

7.3.7 Processing of transactions of the trade and service enterprise carried out on local cards (UzCard, HUMO, etc.), according to the e-commerce project

at least 1% of the transaction amount

7.3.8 Connection (registration) to the fiscal module and servicing online cash registers

1% of the amount

7.3.9 Monthly rent for commercial terminals of small business entities (with a monthly turnover of more than 100 000 UZS)

fee is not charged

7.3.10 Monthly rent for trading terminals of small business entities (with a monthly turnover of less than 100 000 UZS)
Terminals inactive for 6 months are withdrawn from the client

15% BEA, including VAT

Tariffing begins on June 10, 2024.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.