Office of the Latvian Agency of investments will resume in Ukraine

Офис латвийского Агентства инвестиций возобновит работу в Украине

Latvia will resume in Ukraine the work of the office of the Agency of investments and development that will give impetus to the development of bilateral investment cooperation and trade.

This was after a meeting with the Minister of economy of the Republic of Latvia Ralphson of Namiro 6 December in Riga, said Deputy Prime Minister for European and Euro-Atlantic integration of Ukraine Dmitry Kuleba.

“The office of the Latvian Agency of investments and development in Kiev will contribute to the daily dialogue between the Ukrainian and Lithuanian business and will give a powerful impetus to the development of bilateral investment cooperation. The resumption of office after three years of break is a clear signal that foreign investors see positive changes in Ukraine. There will be more investment and more trade with our friend and country in the EU in Latvia,” – said Kuleba.

Nemiro announced that the office will resume its work next year, after the completion of technical procedures.

Kuleba and Nemiro also agreed to reform the work of the intergovernmental Ukrainian-Latvian Commission on economic, industrial, scientific and technical cooperation, co-chairmen of where they are.

The co-chairs agreed that the next Committee meeting will be held in may 2020 in Kiev. The priority topics of the meeting pre-determined digitalization, agriculture, pharmaceuticals and logistics.

Vice Prime Minister proposed to hold on the sidelines of the Commission, the special business forum that will facilitate the establishment of contacts between Ukrainian and Latvian entrepreneurs.

“Business contracts make international contacts, so have to build not only relations between governments, but also to contribute as productive as possible contacts between entrepreneurs of our two countries,” – said Kuleba.

Nemiro supported the idea of holding such a forum.

As of July 1, 2019, the volume of investments of the Republic of Latvia to Ukraine amounted to $41.5 million, particularly in professional, scientific and technical activities – $9.6 million (23.1 per cent); financial and insurance activities – $8.2 million (19.6 per cent); industry – $5.7 million (13.8 per cent). The volume of Ukrainian investments in the economy of Latvia for the same period amounted to $72,1 million

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