Armenian-Latvian business cooperation is a good opportunity for developing bilateral business relations, RA President Serzh Sargsyan stated at the opening of an Armenian-Latvian business forum in Yerevan on December 11.

He told the attendees that at the Davos economic forum he discussed the development of Armenian-Latvian business ties with his Latvian counterpart Valdis Zatlers. “Armenia-Latvian trade turnover has registered growth over recent years Despite lower raters, which, we believe, can be accounted for by the crisis, I am sure that all the preconditions are available for further growth. The bilateral trade turnover suggests that two or three long-term agreements are of essential importance,” President Sargsyan said. He expressed hope that the business participating in the forum will succeed in establishing contacts and discuss opportunities for cooperation.

The Armenian leader stated that Armenia and Latvia have the necessary legal underpinnings, and the agreement on economic, scientific and technological cooperation signed as a result of the Latvian President’s visit will give impetus to further cooperation.

“The development of our relations with the European Union – both within the European Neighborhood and the recently launched European Partnership – has opened up new opportunities for dynamic development of economic ties. Half of Armenia’s exports and a third of imports is a share of European states,” Sargsyan said.

The Armenian leader is sure that Armenia and Latvia can establish cooperation in such fields as tourism, industry, agriculture, technologies, banking and services.

“No differentiations of foreign capital are in effect in Armenia. Moreover, we have no case of a large investor leaving Armenia. The Armenian authorities treat heir partners with warmth and care,” the Armenian Presiden said.

The Latvian delegation includes over 60 businessmen engaged in various economic sectors.

T.P.