EU – Baltic States, Forum, Latvia, Legislation, Railways, Transport

The memorandum of the accession to the ITF Corporate Partnership Board was signed by the President of Latvijas Dzelzcels, Edvins Berzins, and the ITF Secretary General, Young Tae Kim.

Berzins said that the membership of the Corporate Partnership Board would provide opportunities for building contacts not only with other transport companies but also with representatives of other industries significant for transport development in the future.

"With the development of new logistics solutions, creation of new strategic partnerships is becoming particularly vital. Just having good relations with the transport companies in the neighboring countries is no longer enough for growth in the long term," the head of Latvijas Dzelzcels said, referring to the need for innovative technologies and use of information technologies in logistics development.

The ITF and its Corporate Partnership Board are part of the network of the OECD organizations promoting good governance on all levels, and an invitation to join one of those organizations is a recognition of the quality of the corporate governance practices at Latvijas Dzelzcels, Berzins said.

Latvijas Dzelzcels can contribute to the Corporate Partnership Board its vast experience in the work with partners from two territories with different business culture, technological requirements and infrastructure parameters - the EU and the CIS countries, he said.

Latvijas Dzelzcels is a state-owned railway company responsible for management of the public railway infrastructure in Latvia and the parent company of the Latvijas Dzelzcels group.

Latvijas Dzelzcels closed 2017 with a turnover of EUR 180.2 million, down 6 percent year-on-year, and its profit before taxes was EUR 800,000.

The ITF annual summit is under way in Liepzig, Germany, from May 22 to May 25