OREANDA-NEWS. January 23, 2012. In conversation with new Ambassador of the Czech Republic to Latvia Pavol Sepelak, Prime Minister Valdis Dombrovskis emphasized the need to strengthen fiscal discipline in order to stabilize the eurozone. The Prime Minister and the Ambassador also agreed on readiness of the two countries to cooperate to defend common interests in the context of next multi-annual budget of the EU.

“Our countries have many interests in common, including, in the area of the cohesion policy and distribution of direct agricultural payments,” stated the Ambassador. He congratulated the Prime Minister on the occasion of conclusion of the international loan and expressed readiness to continue joint work to contribute also to economic growth, incl., promoting investments and trade relations.

The Prime Minister emphasized that the cooperation between the Baltic States and the Visegrad group countries – the Czech Republic, Slovakia, Hungary and Poland, has great potential and Latvia is ready for active cooperation within the framework of this format.

Discussing the bilateral political dialogue, the Prime Minister expressed satisfaction over the visit of the Prime Minister of the Czech Republic Petr Necas to Latvia planned this year, within the framework of which the parties will continue to look for new opportunities to promote closer cooperation at the officials’ level and at business level.

Indicators of trade between Latvia and the Czech Republic:

In Q1-Q3, 2011, the trade turnover of Latvia and the Czech Republic amounted to EUR 136.12 million, ranking the Czech Republic the 19th. As compared to respective period of the previous year, trade turnover of Latvia and the Czech Republic has increased by 42.24% or EUR 40.42 million (incl. export has increased by 63.22 %, while import – by 34.41%).

The main export goods of Latvia are machines and mechanisms; electric equipment (27.45%), metals and their products (23.67%), timber and its products (7.99%). Import is dominated by means of transport (32.22%), machines and mechanisms; electric equipment (24.09%), plastic and plastic goods; rubber and rubber products (9.06%).