OREANDA-NEWS. September 03, 2009. Valdis Dombrovskis, Prime Minister met Hui Liangyu, Vice Premier of the People’s Republic of China (PRC) during his official visit to Latvia.

During the meeting, the sides mainly discussed bilateral relations of both countries, as well as opportunities for strengthening economic co-operation.

V.Dombrovskis noted that, “Latvia has always highly valued relations with China. We are interested in continuing the bilateral dialogue, especially now, when China plays an increasing role in international politics and global financial and economic system”.

On behalf of the Government of Latvia, V.Dombrovskis congratulated H.Liangyu on the occasion of forthcoming 60th anniversary of foundation of the Peoples Republic of China that will be celebrated in China on October 1.

The officials were of the same opinion that the relations of Latvia and China have developed persistently. The Prime Minister of Latvia thanked the representative of China for the policy of non-recognition of Latvia’s occupation. Hui Liangyu expressed his gratitude to Latvia for consistent support to the One–China policy.

V.Dombrovskis and Hui Liangyu exchanged views on the meetings of recent years and top-level meetings that are planned in the near future, including the meeting of the State President, Valdis Zatlers and Ex-Prime Minister, Ivars Godmanis with the President of the PRC, Hu Jintao and Wen Jiabao, Premier of the State Council of the PRC during the Olympic Games of the Beijing.

The sides agreed that the visits have created positive grounds for further development of Latvia – China relations, particularly in the area of trade, investments and transit. The co-operation between the Parliaments of China and Latvia, as well as at the municipality level, especially among the twin cities - Riga – Suzhou and Daugavpils – Harbin has also been active.

The sides discussed the opportunities for co-operation of both countries in the area of economy and V.Dombrovskis emphasized that Latvia is interested in fostering the co-operation in such sectors as transport, transit, logistics, aviation services, bio-technologies, pharmacy, information technologies and telecommunications, as well as tourism. V.Dombrovskis and Hui Liangyu expressed the conviction that the 7th session of Latvia-China Intergovernmental Committee that is scheduled for autumn, this year, in Riga, will be successful.

V.Dombrovskis notified about the interest of Latvia’s businesses to increase export of their products to China, mentioning pharmacy companies, producers of dairy and fisheries products as most active.

Latvia is particularly interested in the development and diversification of trade in agricultural products with China also by taking part in purchases organized by China state.

The officials of Latvia and China discussed also such issues as information exchange among the institutions supervising observance of sanitary and phytosanitary norms.

V.Dombrovskis informed Hui Liangyu about Latvia’s interest to develop co-operation in port, logistics and transit sectors through implementation of definite projects to ensure export of China’s products to the countries of the European Union.

A significant topic of the discussion was co-operation in the area of railway traffic. Latvia is interested in possibly sooner development of a railway corridor between China and Europe through Kazakhstan, Russia and Latvia. Latvia expresses interest in signing bilateral agreements in the area of road traffic, thus fostering trade relations between China and the European Union.

V.Dombrovskis announced that Latvia has made a decision to participate in the World Exhibition EXPO 2010 in Shanghai. The representative of China recognized the decision of the Government of Latvia and expressed the opinion that this will be the largest and the most attended EXPO exhibition.

Hui Liangyu extended an invitation to the top-level delegation of Latvia to visit EXPO exhibition in Shanghai.

With regard to co-operation in the area of culture and education, the V.Dombrovskis recognized the support of China government to the sinology students and researchers in Latvia, particularly for sending Chinese language teachers to Latvia. The sides expressed gratification for regular implementation of culture exchange programs. In the near future, the first academic Chinese – Latvian dictionary will be published, that will provide the people of Latvia with an insight in Chinese language and culture.

During the meeting, the relations of China and the European Union were also discussed. The sides positively valued the co-operation of Latvia and China in international organizations, particularly in the United Nations.

At the end of the meeting, Hui Liangyu expressed interest in the decisions made by the Latvian Government aimed at overcoming the economic crisis. V.Dombrovskis informed about negotiations with international lenders, reduction of state expenditure, changes in tax policy and other decisions aimed at overcoming the economic crisis. Hui Liangyu expressed his recognition of the competence of Latvia in overcoming the current difficulties.

After the meeting, several agreements were signed in the presence of Valdis Dombrovskis and Hui Liangyu, Vice Premiere of the PRC: The Agreement on Co-operation in the Area of Agriculture between the Ministry of Agriculture of the Republic of Latvia and the Ministry of Agriculture of the People’s Republic of China, the Memorandum of Understanding on Co-operation in the Area of Investment Fostering between the Ministry of Economy of the Republic of Latvia and the Ministry of Commerce of the People’s Republic of China, the Regulations of the Joint Committee of the Republic of Latvia and the People’s Republic of China and the Memorandum of Understanding on Co-operation among the Investment and Development Agency of Latvia, the of Bureau of Trade Development of the Ministry of Commerce of the People’s Republic of China.

Supplementary information on trade between the PRC and the Republic of Latvia:
In 2008, the foreign trade turnover of Latvia amounted at 290,9 mill. EUR that ranked China in the 17th place among the foreign trade partners of Latvia. The export to China amounted at 20,3 mill. EUR (0,2% of total export), while import – 270,6 mill. EUR (2,2% of the total import). Thus, China was the 36th most important export partner and the 12th most important import partner for Latvia.