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On Saturday, March 10, Prime Minister Valdis Dombrovskis and the delegation of Latvian entrepreneurs will leave for the United Arab Emirates and Qatar. This visit is organized at the initiative of the Latvian side with a view to look for new export markets for Latvian producers and to attract new investments in Latvia.
In the Arab countries, the Prime Minister will call for the development of economic cooperation with Latvia in such sectors as transit and logistics, emphasizing the significance of Latvia – a regional transit centre, linking Northern Europe and CIS countries.
Latvia is also interested in attracting investment, particularly in manufacturing sector, to develop tourism, trade relations and enhance cooperation in the areas of wood processing, pharmacy, education and other sectors. Another objective of the visit is to deepen bilateral political dialogue with a view to broaden Latvia’s understanding about this region as well as to sign the agreement, which would facilitate the economic relations.
The UAE and Qatar were selected as targets for the visit in view of the fact that these countries’ strategies focus on investment deployment in other countries.
In addition to cooperation with traditional trade partners in the European Union and the USA, Latvia is interested in developing the cooperation with new regions, whose economic potential and influence over the global economy grows year by year.
The Prime Minister and entrepreneurs will visit the United Arab Emirates (UAE) on March 11-12, while the Latvian delegation will visit Qatar on March 13-14. Minister for Economics Daniels Pavļuts will also participate in the visit.
On Sunday, March 11, in Abu Dhabi - the city of the UAE, the Prime Minister will meet Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE, the monarch of Dubai and Sheikha Lubna Khalid Al Qasimi, Minister of Foreign Trade for the United Arab Emirates.
The meetings with representatives of the airline “Etihad Airways”, Abu Dhabi government owned investment fund “Abu Dhabi Investment Authority” and investment company “Mubadala Development Company” as well as other entrepreneurs of Abu Dhabi are also planned.
In cooperation with Abu Dhabi Chamber of Commerce and Industry, business meetings of Latvian and UAE’s entrepreneurs will be held on Sunday, during which the presentations on different investment opportunities in Latvia are planned, as well as bilateral meetings of Latvian and UAE’s entrepreneurs.
On Monday, March 12, V.Dombrovskis will open the Latvia–UAE business forum organized by Dubai Chamber of Commerce and Industry, during which the UAE’s entrepreneurs will have the opportunity to familiarize themselves with business partnership opportunities offered by Latvia.
Within the framework of the business forum, V.Dombrovskis will also meet Abdul Rahman Saif Al Ghurair, Chairman of Dubai Chamber of Commerce and Industry, as well as meetings with the management of the port management company “Dubai Port World” and airline “Fly Emirates” are planned. The Latvian delegation will also visit Jafza free economic zone, which is one of the world’s fastest growing economic areas.
During the visit, it is planned to sign the Draft Convention between the Government of the Republic of Latvia and the Government of the United Arab Emirates for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital. This agreement will promote bilateral economic relations and facilitate the attraction of investors, creating a stable investment environment, as well as bring tax matters in line with international standards.
On Tuesday, March 13, in Doha – the capital city of Qatar, the Prime Minister of Latvia will meet Sheikh Hamad bin Khalifa Al Thani, Emir of the State of Qatar and Sheikh Hamad Bin Jassim Al Thani, Prime Minister of Qatar. During the meetings, the Memorandums of Understanding between Ministries of Foreign Affairs and Ministries of Economics of Latvia and Qatar will be signed. On March 13, the Latvia-Qatar business forum will be held, organized by the Investment and Development Agency of Latvia in cooperation with Qatar Chamber of Commerce and Industry.
On Wednesday, March 14, the meetings with Mohammed Saleh Abdulla Al Sada, Minister of Industry and Energy of Qatar and representatives of company “Qatargas”, investment company “Qatar Holding”, airline “Qatar Airways”, Qatar government owned company “Al Addyiar Real Estate Investment” and Doha Port Administration are planned.
Within the framework of the visit, V.Dombrovskis will give interviews to the media of the Middle East countries, incl., one of the most influential media of the Arab world, to promote visibility of Latvia in this region and to inform about Latvia as a country, which is attractive for business and investments, as well as an interesting tourism destination.
During the visit to the Middle East, the Prime Minister will be accompanied by a delegation of 43 entrepreneurs representing 33 companies of the following sectors: education, finance, IT, wood processing, transport and logistics, construction and real estate, energy, metal processing, food production, medical services etc.
More detailed information regarding the economic cooperation between Latvia and the United Arab Emirates please find here.
For more detailed information regarding the economic cooperation between Latvia and Qatar please find here.
Supplementary information:
Mārtiņš Panke
Press Secretary to the Prime Minister
Phone: +371 67082865 / +371 26556965
E-mail: Martins.Panke@mk.gov.lv
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