OREANDA-NEWS. September 25, 2012. Bernard Cazeneuve, Minister for European Affairs of France, during the meeting with Prime Minister Valdis Dombrovskis confirmed France’s support to Latvia’s objective to join the Organization for Economic Cooperation and Development (OECD).

The Prime Minister said that accession to the OECD is one of the strategic objectives of Latvia. Latvia has already submitted the application for accession to the OECD, and is ready to become its Member State in the nearest future.

Discussing Latvia’s accession to the euro area, the Prime Minister confirmed Latvia’s objective to join in 2014, and informed that Latvia has already begun to fulfil the Maastricht criteria. B.Cazeneuve welcomed Latvia’s achievements in restoring growth, while emphasizing that assessment of the fulfilment of the Maastricht criteria should be made as openly as possible.

As regards the amount of the cohesion funding and equalization of direct agricultural payments, which are the priorities of Latvia in the EU multi-annual financial framework for 2014-2020, the Minister for European Affairs confirmed France’s readiness to work constructively to find solutions that are acceptable to all Member States.

During the meeting the parties discussed the bilateral relations of Latvia and France, stating that the countries cooperate closely in different areas and are ready to strengthen this cooperation also in the future. B. Cazeneuve repeated the invitation extended by the Prime Minister of France to V.Dombrovskis to pay a visit to France.

Indicators of trade between Latvia and France:

According to the total turnover of trade in goods France with EUR 144.61 million currently ranks the 15th among the foreign trade partners of Latvia. As compared to the 1st half of 2011, export of goods to France has increased by 5.74% or EUR 3.37 million. The volume of import of goods from France has increased by 21.66% or EUR 14.72 million, as compared with the 1st half of 2011.

In 2011, the main export goods to France were timber and timer products, means of transport, machinery and mechanisms; electric equipment. Import from France was dominated by machinery and mechanisms; electric appliances, chemical industry products, food products.