MINSK, 25 July (BelTA) - Belarus would like to foster trade, economic and investment cooperation with Latvia, Belarus Prime Minister Sergei Rumas said as he met with Latvia's Minister of Foreign Affairs Edgars Rinkevics in Minsk on 25 July, BelTA has learned.
“Latvia traditionally ranks among the major trading partners of Belarus. The trade has been gaining momentum totaling $583 million in 2018. I believe that we must not stop at this. We have great prospects. We have something to offer. We also have suggestions as to how we can foster our trade, economic and investment cooperation. A number of joint business projects has been steadily growing, and, of course, this enables us to respond more flexibly to market changes and explore new forms of cooperation. We would like to see Latvia to continue constructive policy towards strengthening the Belarusian-European dialogue and eliminating obstacles to the revitalization of the credit and investment cooperation of Belarus with the countries of the European Union,” Sergei Rumas said.
The prime minister also noted the two countries have successfully implemented a medium-term action plan that encompassed all the areas of cooperation: from logistics to medicine. He suggested further cooperation including in transit and outlined the benefits of such cooperation arising from the geographical situation of the neighboring countries.
Sergei Rumas also highlighted good prospects for Belarus-Latvia cooperation in IT. “Today we are implementing the project on biometric passports, in which a Latvian company takes an active part. We have created unprecedented conditions for business in the Hi-Tech Park and the China-Belarus industrial park Great Stone. Not so long ago the Great Stone hosted the forum which was attended by a large delegation from Latvia. This shows that Latvia has an interest and we encourage Latvian business to come more actively to Belarus with projects,” he said.
Last year Belarus and Latvia signed an agreement on scientific and technological cooperation. “It is being actively filled with projects, in particular in the pharmaceutical sector. We are involved in joint research and are preparing for the launch of the production of popular types of medicines,” the prime minister added.
Sergei Rumas also reiterated the invitation to the prime minister of Latvia to visit Belarus.
A regular meeting of the Belarus-Latvia intergovernmental commission is scheduled to take place in Minsk in October 2019. “I think that the commission will be able to find new approaches to cooperation in transport and logistics, tourism, and other areas,” Edgars Rinkevics said.
Belarus and Latvia have already begun preparing for the 2021 IIHF World Championship. The Latvian foreign minister noted that the parties are considering easing visa rules so that fans could attend competitions in Minsk and Riga. He also noted that such sporting events give a good impetus to the development of tourism in both countries.
Diplomatic relations between Belarus and Latvia were established on 7 April 1992. In 2018 the trade between the two countries amounted to about $583 million (up by 32.9% over 2017). Belarusian export totaled $485.6 million (up by 38.8%). In January-M2019 the Belarusian merchandise exports to Latvia amounted to $167.3 million.
Belarus raised $107.5 million in investment from Latvia in 2018, and $29.9 million in January-March 2019. Belarus is home to 585 enterprises with the participation of the Latvian capital. Latvian investors show interest in projects in trade, services, pharmaceuticals, wood processing, production of food and other products.
