Last year, Russia was Latvia’s fourth largest external trade partner. Investment-wise, Russia was on the second place in terms of direct investments in Latvia, as reported by the Latvian-Russian regional cooperation group at a meeting in Pleskava.
“As a strong wall is built from smaller bricks, our countries’ cooperation is made up of cooperation instances established between separate regions,” said Latvian Economy Ministry’s state secretary Juris Stinka at the opening of the work group’s meeting.
Officials discussed economic cooperation realized between Latvian and Russian regions, as well as future development of cooperation.
It was concluded that the largest contribution to mutual trade relations between Latvia and Russia was provided by Moscow region, Republic of Tatarstan, Leningrad, Pleskava, Kaluga, Kirov and other regions.
Economy Ministry’s report also mentions that Latvia sees wide opportunities for closer cooperation with Russia’s regions in fields like trade, investments, tourism, higher education, agriculture, transports, transit, logistics and others.
Officials also discussed the legislative base with Russian regions. (BNN/Business World Magazine)
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