On Friday, February 17, Ambassador of Greece to Latvia George Chatzimichelakis during the conversation with Prime Minister Valdis Dombrovskis acknowledged that Latvia's experience of overcoming the crisis is an example for other countries. The Prime Minister confirmed Latvia's readiness to provide experts' support to Greece in overcoming the financial crisis.
The officials acknowledged that the production development, economic growth and investment attraction are the factors necessary for each country facing the financial crisis. Latvia is rapidly returning to a growth path and regains confidence in financial markets, however, in order to avoid mistakes of the past, the state has to continue implementation of strict fiscal policy, said V.Dombrovskis.
The Prime Minister emphasized that the bilateral relations of Greece and Latvia are close, by mentioning the joint alternative energy project in Nīca region as a positive example. However, there is still much unused potential for both countries, incl., in the area of investments and tourism.
Photos of the meeting: http://www.flickr.com/photos/valstskanceleja/sets/72157629355955523/
Indicators of trade between Latvia and Greece:
In Q1 - Q3 2011, the trade turnover of Latvia and Greece amounted to EUR 13.40 million, ranking Greece the 57th among the foreign trade partners of Latvia. It has increased by 78.26% or EUR 5.88 million compared with respective period of 2010. The main export goods of Latvia to Greece – timber and timber products, mineral products, machinery, mechanisms. The main imports from Greece - food products, machinery and mechanisms; electric equipment, chemicals and allied products. By December 2011, direct investments of Greece in fixed capital of the Latvian companies amounted to nearly LVL 42 500, thus ranking Greece the 87th and there were 19 joint-ventures registered in the Enterprise Register.
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