Economics, Investments, Latvia, Legislation, Tourism, Transport

Photo: mfa.gov.lv

Rinkevics underlined that Latvia was interested in promoting the visits of UAE senior officials to Latvia as well as completing work on an investment protection agreement between Latvia and the UAE. The ministers also agreed that the first Latvian-UAE Economic Council should be convened in the near future. The parties were unanimous that the council, established in line with the bilateral agreement on economic cooperation, could add positive impetus to the promotion of trade and business cooperation.

During the visit, the UAE delegation also heard presentations on the opportunities for cooperation between the countries in the ICT sector, maritime transport and ports, the Rail Baltica project currently under way, and Latvia’s interests concerning EXPO 2020.

The facilitation of business contacts with the countries of the Gulf Region is one of Latvia’s priorities in its economic cooperation policy. The UAE is currently the largest trade partner to Latvia in the Gulf Region. Latvian companies have keen interest in the region. From the traditional sectors, the most visible success in the UAE market is seen by Latvian food producers, whose exports have increased rapidly over the past year, the Foreign Ministry points out.