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International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 06:57

Kucinskis sees potential for closer economic cooperation between Latvia and Japan

BC, Riga, 07.12.2017.Print version
There is a lot of potential for closer economic cooperation between Latvia and Japan, Prime Minister Maris Kucinskis (Greens/Farmers) said during a meeting with Japanese Prime Minister Shinzo Abe in Tokyo on December 6th, cites LETA.


During the meeting, Kucinskis and Abe discussed the close political and economic relations between Latvia and Japan, the two countries' cooperation at international organizations, and the geopolitical situation in the world. Latvia, a member of the European Union, eurozone, NATO, and the Organization for Economic Cooperation and Development (OECD), is a trustworthy ally to Japan at the international arena, emphasized Kucinskis.


Economic development was the main theme of the meeting. Kucinskis said he was pleased that Latvia and Japan had earlier this year signed a convention for the avoidance of double taxation and the prevention of tax evasion, and the convention would come into force in the near future. This year, Latvia is the second-fastest-growing economy in the OECD, added Kucinskis.


Kucinskis stressed that he was accompanied by a large business delegation, which also included representatives of companies working on new IT solutions. "Latvia is a Northern Europe country with one of the fastest-growing economies in the EU. We see there is potential for Latvia and Riga to become innovation transfer and technology platform in the region," said Kucinskis.


Kucinskis also noted Latvia's readiness to cooperate in freight transit and distribution. There is a lot of potential for Latvian-Japanese cooperation in such areas as transport, logistics, tourism, development of solutions and products. Latvia handles the largest freight amounts in the Baltic countries, and Latvian ports may become the logistics and distribution center for Asian freights, Kucinskis told Abe.


"Together, we wish to develop a modern and effective logistics network, based on Internet of things, as well as modernize the postal network and develop cooperation in cross-border e-commerce," said Kucinskis.


The officials discussed the Japanese-EU free trade agreement, with Kucinskis pointing out that Latvia supported liberal trade policies, which benefit businesses and residents. Kucinskis and Abe also talked about the developments in Europe and the world, in particular about Great Britain's withdrawal from the EU.


Kucinskis informed Abe that Latvia would celebrate its centenary next year, and invited the Japanese premier to visit Riga for the celebrations.


As reported, Kucinskis' visit to Japan will continue through December 9. Kucinskis will later have meetings with Japanese Land, Infrastructure, Transport and Tourism Minister Keiichi Ishii, Economy, Trade and Industry Minister Hiroshige Seko, and members of Latvian-Japanese parliamentary cooperation group.


Kucinskis will also participate in forums on Latvian-Japanese economic cooperation development, organized by Japan External Trade Organization and the Fintech Center of Tokyo (FINOLAB). He will meet with the heads of several Japanese business associations and major companies.

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