Energy, EU – Baltic States, Latvia, Legislation, Markets and Companies, USA

During the meeting, Rinkevics asserted the importance of the TTIPP in the relations between the EU and the U.S., and added that Latvia, as the country presiding over the Council of the EU in the first half of 2015, will facilitate progress of these talks. The U.S. trade representative looked forward to the good cooperation with Latvia in the course of working on this important agreement, and he also pointed out that in light of the current geopolitical situation it is of particular importance to achieve progress with the negotiations.

The Latvian foreign minister stressed that the question of energy security should also be considered in the context of the agreement, given the U.S. potential for exporting energy resources to Europe and the development of the LNG terminal projects in the Baltic Sea region. Rinkevics pointed out that, to increase clarity on the content of the agreement and the negotiation process, greater transparency and information should be provided to parliamentarians and the general public.

The signing of the TTIP will be conducive for mutual trade between the EU member states and the United States. The agreement will reduce the existing tariff and non-tariff barriers, make easier for companies to cooperate, and ensure an effective and equitable protection of investment, the ministry points out.

Rinkevics is currently in Rome to take part in an informal meeting of the EU Trade Ministers.