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Kazakhstan and Latvia Intensify Efforts to Deepen Economic Partnership

Kazakhstan and Latvia Intensify Efforts to Deepen Economic Partnership
Фото: MFA 16.05.2024 15:51 800

The 9th meeting of the Kazakhstan-Latvia Intergovernmental Commission on Economic, Scientific and Technical Cooperation convened under the chairmanship of Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko and Minister of Welfare of Latvia Uldis Augulis,El.kz cites MFA.

Participants included representatives from various sectoral ministries and agencies of both countries. The agenda covered issues such as expanding mutual trade, implementing joint investment projects including in transport and logistics, the agro-industrial complex, digitalization, education, and tourism. The parties expressed satisfaction with the robust growth in bilateral trade turnover between Kazakhstan and Latvia, which reached USD 356.4 million in 2023 (a 63% increase). This positive trend continued in the first quarter of 2024, as mutual trade reached USD 98.5 million, reflecting a 27% increase over the same period of the previous year.

Special attention was given to the impact of the sanctions policy on Kazakhstan’s economy and interaction with foreign partners on this issue.

During the session, the Deputy Minister thoroughly briefed the participants on the results of the socio-economic development of Kazakhstan, preferences for foreign investors, and encouraging Latvian companies to participate in investment projects on the Kazakh market.

Both sides emphasized the key role of the Intergovernmental Commission as a vital instrument in promoting bilateral business cooperation and highlighted the importance of continuing joint efforts to improve the legal framework. The session concluded with the signing of the Commission’s meeting final Protocol.

The day before, Roman Vassilenko also participated in a meeting between Minister of Transport of Kazakhstan Marat Karabayev and Minister of Transport of Latvia Kaspars Briškens. The discussion focused on a complex range of current issues aimed at furthering the development of Kazakh-Latvian relations, including enhancing trade and economic interactions. Specific additional steps were outlined to boost business cooperation, with a focus on implementing promising joint projects in transport and logistics.

During the visit, Roman Vassilenko also met with State Secretary of the Ministry of Foreign Affairs of Latvia Andris Pelšs, Head of the Interparliamentary Co-operation Group Linda Liepiņa and her colleagues, as well as Director of the Latvian Institute of International Affairs (LIIA) Karlis Bukovskis. 

At the Ministry of Foreign Affairs of Latvia, the discussions centred on the current and future state of bilateral relations and the collaborative endeavours on international stages. The commitment of Astana and Riga to intensify and deepen their political dialogue and to enhance mutually beneficial cooperation in investment, humanitarian, and other sectors was reaffirmed.

During the talks at the Latvian Saeima, a thorough exchange of views on current bilateral and multilateral agenda items took place. Roman Vassilenko informed the Latvian side about the consistent implementation of President Tokayev’s policy aimed at building a Just and Fair Kazakhstan.

At the meeting with Karlis Bukovskis and researchers of LIIA, mutual interest was expressed in further expanding cooperation along the lines of scientific research institutes of Kazakhstan and Latvia.

The negotiations in Riga, conducted in a consistently cordial and trustful atmosphere, affirmed the commitment of both countries to further enhance their relations.

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