On August 9, 2012, the Letter of Intent between the Ministry of Economics of the Republic of Latvia and the international organization “Horasis” was signed as well as the Trilateral Cooperation Agreement between the Ministry of Economics of the Republic of Latvia, the local government of Riga city and the international organization “Horasis” on the organizational aspects of the China Business Forum 2012 to be held in Rīga. The annual International China Business Forum is the top-level forum of China’s entrepreneurs and their foreign cooperation partners that this year will bring together 400 business leaders from around the world in Rīga.
By signing the Letter of Intent of the Ministry of Economics of the Republic of Latvia and “Horasis”, the parties have committed to jointly organize the International China Business Forum in Rīga to be held on November 25-27, aimed at bringing together high-level business leaders of China, Latvia and international companies to promote trade and cooperation between Latvia, China and other world countries. The Letter of Intent was signed by Daniels Pavļuts, Minister of Economics of the Republic of Latvia and Dr. Frank-Jűrgen Richter, Chairman of the Board of the organization “Horasis”.
Daniels Pavļuts, Minister of Economics: “In recent years, Latvia has been working hard to strengthen relations with the third countries with a view to attract investment and create new markets for export. In case of China, it happens successfully, for instance, in 2011 our export to China has increased by 104.7% as compared with 2010, reaching the record – LVL 47.9 million. Moreover, the Chinese people are increasingly looking for opportunities to invest abroad. Latvia has regained its macroeconomic and fiscal stability, and has successfully returned on the map of investment-friendly places. In addition, currently we are one of the most stable growing economies among the European countries. The China Business Forum in Rīga is a unique opportunity for Latvia to show itself as an investment-friendly and open place for entrepreneurship not only to Chinese businessmen and high-level officials, but also to other guests who will arrive in Rīga from other world countries”.
Today the Trilateral Cooperation Agreement between the Ministry of Economics of the Republic of Latvia, the local government of Riga city and “Horasis” was signed, granting the local-government of Riga City the status of the leading partner of the Latvian side in the organization of the forum. The Agreement was signed by Daniels Pavļuts, Minister of Economics of the Republic of Latvia, Dr. Frank-Jűrgen Richter, Chairman of the Board of the organization “Horasis” and Nils Ušakovs, Chairman of Riga Council. Paying the attention of the business leaders from around the world to Latvia and Rīga during the days of the forum, Rīga will be positioned as a regional conference centre with specific business environment advantages offering a unique opportunity for entrepreneurs to establish contacts with potential cooperation partners. Similarly, the conduct of the China Business Forum in Rīga will provide the opportunity to internationally popularize Latvia, to enhance its recognisability by attracting new investment and developing tourism.
Nils Ušakovs, Mayor of Rīga: “As regards the cooperation with China, we have several priorities. We want to position Rīga as an attractive destination for tourists from this country. Rīga has become one of the co-founders of the World Tourism Cities Federation (WTCF). This organization brings together 26 cities around the world as well as 17 Chinese cities, and the participation in the organization will help us to enhance the cooperation in the area of tourism. To develop the economic cooperation, there is a need for experts who know the Chinese language. The Riga City Council, in cooperation with the Open University of China will work together to open the regional Chinese language distance-learning centre in our city, that could comprise the entire Baltic region. During the November’s forum, we would like to familiarize the Beijing’s investors also with the opportunities provided by the Rīga Free Port and the capital city of Latvia as an investment-friendly place”.
The International China Business Forum 2012 is dedicated to advantages of the Chinese economy and business environment, and a special attention will be given to Latvia. China is an important partner of Latvia with outstanding potential for cooperation in various fields.
Transit is one of the most promising areas of cooperation that will be particularly emphasized during the forum. Participation of Latvia in this forum will be indicative of Latvia’s achievements, will enhance recognisability of the country and provide the Latvian entrepreneurs with the opportunity to establish direct contacts with the Chinese entrepreneurs as well as entrepreneurs from around the world. The conduct of the forum in Rīga will provide the opportunity to popularize Latvia and introduce a substantial number of business leaders and officials from around the world with its investment environment.
The China Business Forum in Rīga is organized by the international organization “Horasis”, which focuses on effective inclusion of new economic powers – China, India, Russia and Arab countries, in the global market system, in cooperation with the Ministry of Economics of the Republic of Latvia and the Investment and Development Agency of Latvia. Also a number of cooperation partners – Riga City Council as the leading partner, JSC “Latvijas Dzelzsceļš” as a strategic partner and several co-organizers - Riga Free Port Authority, Authority of Ventspils Free Port and “Lattelecom” Ltd. are attracted to organizing the forum.
In 2011, the trade in goods and services of Latvia and China amounted to EUR 377.9 million, i.e., by 43.6% more than in 2010 when this figure was EUR 263.1 million. The Latvia’s export to China last year amounted to EUR 47.9 million, and has increased by 104.7% as compared with EUR 23.4 million in 2010, while imports from China in 2011 amounted to EUR 330 million, i.e., by 37.7% more than in 2010 when imports accounted for EUR 239.7 million. The main export goods of Latvia to China are metals and products thereof, mineral products, machinery, mechanisms and electrical equipment, vegetable products, wood and wooden products.
For supplementary information:
Head of the Public Relations Division
Ministry of Economics of the Republic of Latvia
E-mail: Evita.Urpena@em.gov.lv; firstname.lastname@example.org
Twitter: @EM_gov_lv, @siltinam
Head of the Public Relations Division
Investment and Development Agency of Latvia
Phone: 67039422, 26399995
Deputy Head of the Public Relations Division
Riga City Council
Phone: 67105908; 26334633