On Wednesday 9 March, Prime Minister Krišjānis Kariņš met with Secretary General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann to discuss the impact of the war carried out by the Putin’s regime in Ukraine on global economy and the ways to mitigate the consequences, particularly in the energy sector.
The parties agreed that the invasion by the Putin’s regime of Ukraine and the sanctions imposed against Russia would bring about enormous changes to the global economic system, including an early transition away from fossil fuels. K. Kariņš called on the OECD experts to analyse the situation and come forward with proposals on how to adapt to these changes more quickly and successfully.
The Prime Minister welcomed the OECD’s decision to suspend cooperation with Russia and Belarus and continue providing support to Ukraine.
The officials also discussed the OECD Economic Survey on Latvia and the strengthening of the export sector, as well as reforms required to boost international competitiveness of the Latvian economy, with a particular emphasis on education, reskilling and upskilling of labour force.
