Ukraine is currently Latvia's 7th-largest trade partner, but both PMs expressed hope that the economic bonds between the two countries will become stronger.
Yatsenyuk said that Ukraine wants to increase flights and train freights between the two countries and hopes for help in carrying out massive reforms in the forestry industry.
"We really need your support in providing good governance in the Ukrainian Forest Agency," Yatsenyuk said.
He underscored that Latvia has great experience in the industry, so Ukraine wants to ask Latvian experts, heads of institutions and minsters to seek for solutions in making better the management in the Ukrainian Forest Agency.
Latvia and Ukraine have also pledged to exchange experience in agriculture, including the development of agricultural co-op companies, organizing consultations and studies in agriculture, as well as to strengthen bilateral trade in agricultural and food products between the two countries.
The Ukrainian prime minister began his two-day visit to Riga on Thursday with a meeting with the prime ministers of Latvia, Lithuania and Estonia.
EU-Ukraine relations, Europe's security policy, implementation of the Minsk agreement as well as reforms in Ukraine were discussed during the meeting. The four PMs joined in blasting the Nord Stream 2 project planned to run under the Baltic Sea.
In other news, Ukrainian PM invited his Latvian counterpart Laimdota Straujuma to a return visit in Kyiv, reported BNS.
The Latvian prime minister thanked the head of the Ukrainian government for the invitation and said she might visit Ukraine next year, possibly together with the prime ministers of other Baltic states.
On Friday afternoon Yatsenyuk will attend the annual foreign policy and security forum, Riga Conference 2015.