Investments, Latvia, Legislation, Taxation

Atis Slakteris.

As LETA was informed by the Latvian Embassy in Japan, the minister signed the convention yesterday, during the Asia Europe Meeting (ASEM) conference and finance ministers' meeting, held on the South Korean resort island of Jeju.

On behalf of South Korea, the treaty was signed by South Korean Finance Minister Kang Man-Soo. Latvian Ambassador in South Korea Peteris Vaivars also participated in the signing ceremony.

It was the only convention signed during the ASEM conference and it attracted significant interest from South Korean media, including one of the largest and most influential television companies of the country, KTV.

Following the ceremony, both ministers discussed the importance of the convention for strengthening the economic relations between both countries, as well as discussed the significance of ASEM conference and the finance ministers' meeting.

Slakteris invited his South Korean colleague to come on a visit to Latvia.

It is expected that the convention will enhance the economic relations between South Korea and Latvia by promoting the growth of investments and trade between both countries.

Already now several large South Korean companies have their offices in Latvia, for example, LG Electronics and Samsung.