OREANDA-NEWS. August 03, 2009. Valdis Dombrovskis, Prime Minister of the Republic of Latvia, held a meeting with Igor Levitin, Co-Chairman of the Latvian-Russian Intergovernmental Commission, Minister of Transport of the Russian Federation,. The officials met within the framework of the meeting of the Latvian-Russian Intergovernmental Commission and of the Latvian-Russian Business Council, reported the Official website mk.gov.lv.

At the beginning Igar Levitin expressed his gratitude to Latvian Prime Minister Valdis Dombrovskis and Minister for Economics Artis Kampars for sustainable and successful cooperation of both countries, and he also noted that during this visit considerable progress was reached in order to sign the agreement on promotion and protection of investments, as well as the agreement on avoidance of double taxation and tax evasion. „Just some years ago we discussed whether to meet at all, now there are no such discussions. Instead, our work is practical and purposeful,” said Igor Levitin.

Valdis Dombrovskis acknowledged the work of the Intergovernmental Commission and stressed that it is necessary to further work on the agreement on avoidance of double taxation and its endorsement process. The head of the Latvian Government said that the Latvian side is ready to finish its internal endorsement procedure in the nearest future.

The Prime Minister also admitted that the sides have carried out considerable work on the investment agreement, but he noted that Latvia still maintains its compromise solution which envisages non-application of the national regime to those industries which have been stated as strategic industries in laws of the Russian Federation. „I think our proposal is mutually beneficial,” remarked Valdis Dombrovskis.

The Russian Minister of Transport acknowledged bilateral cooperation in the area of transport and transportation; however, he admitted that there are many opportunities for development of cooperation. Valdis Dombrovskis emphasised that, according to Latvia’s view, relations of Latvia and Russia in the area of transport are developing dynamically and purposefully. Freight transportation by rail between Latvia and Russia tends to grow.

Latvian and Russian rail companies have developed practical cooperation which should also be encouraged in the future.

Russia is the biggest trade partner of Latvia outside the EU (third biggest partner in general). In 2008 the trade volume of Latvia and Russia amounted to 2.59 billion USD which is by 27% more than in 2007. It is expected that this indicator would fall in 2009 due to the economic crisis.
The Latvian delegation in this meeting consisted of Minister for Economics Artis Kampars, Latvia’s Ambassador to the Russian Federation Edgars Skuja, President of the Latvian Employers’ Confederation Vitalijs Gavrilovs and Vice-President of the Confederation Vasilijs Melniks.

The Russian delegation in this meeting consisted of Russia’s Ambassador to Latvia Alexander Veshniakov, Co-Chairman of the Business Council Petr Aven, President of the Russiaon Union of Manufacturers and Entrepreneurs Alexander Shohin, and Director of the Department of International Relations of the Russian Ministry of Transport Alexander Andreyev.