OREANDA-NEWS. August 30, 2011. Prime Minister Valdis Dombrovskis held a meeting with Ambassador of Belgium Leopold Merckx during his farewell visit. The Prime Minister recognized the increasing investment volume of Belgium to Latvia and called on Belgium to continue promoting the economic cooperation as one of the key priorities of cooperation between the two countries.

During the negotiations, the Prime Minister thanked the Ambassador for successful work in Latvia during his term of office in coordinating the activities of the Belgium’s presidency of the European Union in the second half of 2010 and in implementing the cooperation programs of Latvia with the region of Flanders, Wallonia and the French speaking community of Brussels.

The Ambassador of Belgium informed about the interior policy issues of his country and both officials discussed the current situation in the Eurozone.

Latvia-Belgium trade indicators:
In the first half of 2011, the Latvia-Belgium foreign trade volume amounted to EUR 130.2 million, ranking Belgium in the 14th place among the foreign trade partners of Latvia. During this period, as compared with the respective period of 2010, the foreign trade volume of Latvia and Belgium has increased by 41% or EUR 37.9 million.

This increase is mainly provided by an increase in imports – by 57.5%. Timber products, copper waste and scraps, component parts of motor vehicles dominate in Latvia’s exports. Medicinal products, pneumatic rubber tires and bulldozers prevail in Latvia’s imports from Belgium. 113 Belgium-Latvian joint ventures have been registered in Latvia. Belgium has invested nearly LVL 7 million in the equity capital of Latvian companies.