Baltic States – CIS, EU – Baltic States, Latvia, Legislation, Markets and Companies, USA

There was general agreement that Russia's aggression in Ukraine and questions on the effects of sanctions only confirm the understanding that the EU and the U.S. markets ought to become more closely connected.

Edgars Rinkevics was sure that the TTIP agreement will strengthen the transatlantic link between the economies of the EU and the United States of America. Progress in negotiations is expected during the Latvian Presidency of the Council of the EU. Upon signing of the agreement, the market restrictions on investment will be removed for the benefit of EU and the U.S. companies, thereby promoting jobs and growth and competitiveness of the economies on both sides of the Atlantic.

Edgars Rinkevics emphasised that it was essential to see that the TTIP ensures effective and fair protection of investments. The current geopolitical conditions are also proof of the need to continue work on enhancing of energy security and energy supply diversification. Latvia has a considerable interest in food safety and guaranteeing its quality. In this regard, it is important to maintain the manner in which the EU has been handling the distribution of genetically-modified organisms (GMOs). At the minimum, it is necessary that food or animal feed containing, consisting of or produced from GMOs undergo a scientifically-based risk assessment and that issuance of permits to place them on the market is done in accordance with EU legislation, and that foods and animal feed be appropriately labelled so as to safeguard the possibility of consumers to make their own choice.

Foreign Minister Rinkevics emphasised that the TTIP should contain provisions for matters such as trade promotion, the transparency of legislation, public procurement, the protection of intellectual property rights, competition, accessibility of raw materials, and removal of various barriers to exports. Edgars Rinkevics thanked the Trade Representative for U.S. cooperation and support provided in the course Latvia's OECD accession negotiations, which have been moving forward on schedule so that Latvia may indeed become a full member of the organisation in 2016. The OECD membership and accession process in itself will improve the quality of public administration and policy making.

Toward the end of the meeting, the Foreign Minister invited Mr. Froman to participate in the Riga Conference on 6–7 November and to open a discussion panel entitled "The Rise of Geo-economics".

Michael Froman has been the United States Trade Representative since 21 June 2013. As USTR, he is President Obama’s principal advisor, negotiator and spokesperson on international trade and investment issues.