OREANDA-NEWS. February 18, 2013. Valdis Dombrovskis, Prime Minister of the Republic of Latvia, during the farewell visit of Hu Yeshun, Ambassador of China, acknowledged support and considerable contribution towards closer cooperation, and also urged to further develop economic cooperation.

The Latvian Prime Minister expressed his hope that the volume of investments of China into Latvia will increase, and encouraged Chinese investors to use the opportunities provided by the special economic zones in Latvia. In recent years cooperation and growing trade show closer ties of Latvia and China. Valdis Dombrovskis emphasised that Latvia highly values the proposals of the Chinese Government for cooperation with the East-European region and expressed readiness to support China’s investment projects in Latvia, as well as other cooperation initiatives. The Prime Minister noted that the bilateral relations are stable and sustainable as indicated by active political dialogue and regular visits of senior officials. Latvia is interested in seeking new opportunities for increased exports of competitive and innovative products and services.

Hu Yeshun recognised good relations of Latvia and China and stressed that he sees certain potential for further development of productive business cooperation.

Trade indicators of Latvia and China:

In quarter 3 of 2012 the volume of exports to China amounted to 34.79 million EUR which is by 19% more than in the same period of 2011. By total trade volume China with 282.24 million EUR ranks as the 13th biggest Latvia’s foreign trade partner. In Q3 of 2012 direct investments of China into Latvia amounted to 0.4 million EUR. Biggest investments include real estate, lease and other commercial services, as well as wholesale and retail trade.