On Wednesday, May 18, in Rīga, Prime Minister Valdis Dombrovskis and representatives of the Swedish Chamber of Commerce discussed the economic cooperation between the two countries and the investment attraction to Latvia. The meeting was held within the framework of the Members’ Annual Meeting organized by the Swedish Chamber of Commerce.
In his address to the members of the Swedish Chamber of Commerce Valdis Dombrovskis emphasized that Latvia’s economy has been stabilized and its indicators continue to improve. "By the end of this year we plan to complete the international financial assistance programme and already over the next few months Latvia will return to international financial markets”.
”It is an important indicator showing that Latvia is regaining its economic sovereignty. Our objective is to meet the Maastricht criteria already in 2012 that would allow Latvia to join the Eurozone from January 1, 2014”, said the Prime Minister. At the same time, the Head of the Government pointed out the need for strict fiscal policy and further consolidation. However, the 2012 budget will be the last budget of fiscal consolidation.
V.Dombrovskis was pleased to note that Sweden has traditionally been one of the most important economic partners of Latvia and that both, the economic and political relations between the two countries continue to improve.
In 2010 Latvia’s exports to Sweden increased by 38% compared to 2009 and the total trade turnover between the two countries last year amounted to EUR 657,6 million (by 34% more than in 2009). There is an intensive bilateral cooperation between Latvia and Sweden at a senior official’s level, as well as within the framework of the European Union.
Sweden is the largest investment partner of Latvia and last year ranked in the 6th place among Latvia’s foreign trade partners. Latvia maintains a positive trade balance with Sweden (EUR 142 million).
The photos of the meeting are available in the photo album of the State Chancellery:
Information prepared by:
Press Secretary to the Prime Minister
Phone.: 67082865 / 26556965