Foreign Minister invites Kuwaiti businesses to Latvia on an investment study visit

11.10.2017. 19:17

On 11 October, during an official visit to the State of Kuwait, Foreign Minister Edgars Rinkēvičs met the Prime Minister of Kuwait, Sheikh Jaber Mubarak Al-Hamad Al-Sabah, and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, for a discussion on economic cooperation between Latvia and Kuwait and latest developments in international relations.

As part of his visit, Foreign Minister Rinkēvičs inaugurated the Latvia-Kuwait Business Forum with participation of companies from both countries. At the opening ceremony, the Minister invited Kuwaiti companies on study visit to explore investment opportunities in transport and logistics, tourism, and food production.

Edgars Rinkēvičs and the Foreign Minister of Kuwait signed an Agreement between the Government of Latvia and the Government of Kuwait on Economic and Technical Cooperation. It envisages a broad range of contacts, especially in the areas such as finance, banking, trade, investments, industry, science, technology and innovation,    information and communication technologies, transport, construction, agriculture, food industry and tourism, including health tourism.

The officials also signed an Agreement on the Exemption of Visa Requirements for Holders of Diplomatic, Service and Special passports.

The Minister suggested that Kuwait might consider the opening in Latvia of a regional embassy covering the Baltic States. Latvia is interested in a continued political and economic cooperation with Kuwait, said Edgars Rinkēvičs. Latvia is a gateway to the single European market with its 740 million consumers, and a portal for distribution of goods to Scandinavia with more than 20 million consumers, the Latvian Foreign Minister pointed out.

Edgars Rinkēvičs invited the Foreign Minister of the State of Kuwait to visit Latvia and noted that invitations have also been extended to the Minister for Health, the Director General of the Chamber of Commerce and Industry, and the President of the Kuwait Investment Office in London.

The Prime Minister of Kuwait and Foreign Minister Rinkēvičs agreed on the drafting of an intergovernmental agreement on cooperation in education and science, which could help launch direct contacts between Latvian and Kuwaiti higher education institutions.

Background information

Taking part in the Foreign Minister’s official visit to Kuwait were 21 representatives from 13 Latvian companies: SIA “Solavi”, SIA ‘SWH Sets”, SIA “Mikrokods” (ICT); AS “Madara Cosmetics”; SIA “Rīgas krēslu fabrika”, SIA “Jauda kods” (timber processing); SIA “Anita Sondore” (jewellery), SIA “Nākotne”, SIA “Chocolette Confectionery” (food industry); SIA “MFIB”, SIA “Grade Latvia” (marketing&consulting); SARMA&NORDE Architects, SIA “Silver Fox” (construction, architecture, real estate); and from two higher education institutions: Riga Graduate School of Law and the Art Academy of Latvia.

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