EU – Baltic States, Latvia, Legislation, Markets and Companies, Transport

Photo: mfa.gov.lv

According to the Latvian Foreign Ministry, bilateral relations and cooperation in various international formats were discussed during the meeting in Riga on November 15, and the focus was on economic cooperation between the two countries.

Kalnina-Lukasevica said that bilateral cooperation in politics, business, culture and education should be rated as dynamic and constructive. The officials confirmed their wish to continue the active political dialogue and expand the legal framework.

It is possible to develop cooperation in transport, pharmaceuticals, timber industry, food processing and other sectors, she said, suggesting that South Korean business missions should be organized to Latvia to explore opportunities for economic contacts and investments.

"After signing of the Free Trade Agreement between the EU and the Republic of Korea in 2011, trade between Latvia and South Korea has increased four-fold. South Korea is currently one of Latvia's main trade partners in the Far East," Kalnina-Lukasevica said.

She also pointed to the high potential for cooperation in education and science, and for student exchange in particular. The number of South Korean students at the Latvian higher education institutions is comparatively low at present. Nevertheless, with education export being one of its priorities, Latvia is interested in attracting Korean students.

Both officials highlighted the significance of the upcoming visit by the President of Latvia, Raimonds Vejonis, to South Korea in February 2018. It is planned that the President will be accompanied by a delegation of Latvian entrepreneurs, who will take part in a business forum.

The parties shared views on developments in North Korea and expressed satisfaction at the convergence of opinions on the preferable course of action to resolve the situation on the peninsula.