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International Internet Magazine. Baltic States news & analytics Friday, 23.08.2019, 05:51

Latvia invites Chinese investment promotion agency to open office in Riga

BC, Riga, 07.06.2018.Print version
Latvia invites the Chinese investment promotion agency to open an office in Riga, Eriks Eglitis, State Secretary of the Latvian Economics Ministry, said at a news conference in Ningbo, China, which is hosting the Ministerial Conference of China and Central and Eastern European Countries (CEEC), informs LETA.

He said that the Latvian Investment and Development Agency had representations in Beijing and Shanghai as well as an office in Ningbo therefore Latvia would like the Chinese investment promotion agency to open an office in Riga for operations not only in Latvia but also in other Baltic states.

The Chinese Vice-Minister of Commerce, Ziying Fu, who is responsible for international trade, said that the participants of the China-CEEC or 16+1 ministerial conference had agreed that there should be more focus on practical cooperation. China and Central and Eastern Europe are both large markets and of interest to each other, he said, stressing that China was becoming more and more open to international trade and there was great potential in it.

The China-CEEC Investment and Trade Expo is also under way in Ningbo, and Latvia has been given the status of the Guest Country of Honor at the trade fair this year.

Eglitis said that Latvia had used well its opportunities to boost trade with China. "The Latvian products have been noticed, and Latvian imports are growing," he said, praising cooperation with Chinese officials.

Speaking during the China-CEEC Investment Cooperation Meeting, Eglitis said that Latvia considered China as one of the priority markets for attracting foreign investment in traditional sectors such as transport and logistics as well as in fintech companies and startups.

A 16+1 tourism conference will be organized in Riga next year, he added.

As reported, the Chinese port city of Ningbo is this week hosting the Third China-CEEC Ministerial Conference and the Fourth China-CEEC Investment and Trade Expo. At the trade fair, Latvia is represented by 13 companies, including Rigas Dzirnavnieks grain mill, Laci bakery, Stenders cosmetics producer, Ilgezeem beverage maker etc.

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