When on visit to Kuwait, Foreign Minister Maris Riekstins signs Latvia-Kuwait Convention on avoidance of double taxation and prevention of fiscal evasion [10 Nov 2009]

On 9 November, when on a visit to Kuwait, Foreign Minister Maris Riekstins met with Crown Prince of Kuwait, Sheik Jaber Al Ahmed Al Sabah, Prime Minister H.H. Sheikh Nasser Al Mohammed Al-Ahmed Al-Jaber Al-Sabah, and the Minister of Oil, Sheikh Ahmad Al-Abdullah Al-Sabah.

During his visit, Foreign Minister Riekstins is accompanied by a delegation of Latvia's businessmen representing the sectors of transport and logistics, energy and information technologies - AirBaltic, the Riga Free Port Authority, ITERA Latvia and SWH Sets.  

During the meeting with the Kuwaiti Prime Minister, the parties underscored their interest to co-operate both in the field of diplomacy and in the sector of economy and finance, as well as to promote mutual awareness of cultures. Both parties emphasised the significance of public and private partnership. With regard to bilateral relations, Kuwaiti and Latvian officials noted the Memorandum of Understanding on political consultations between Foreign Ministries of both countries signed in 2002, and indicated that this would provide a good opportunity for promoting bilateral co-oepration and exchanging opinions on regional issues. Given the fact that in 2010 Latvia will assume the role of coordinator for the Baltic Council of Ministers, but Kuwait, for its part, will hold the presidency of the Gulf Co-operation Council, Foreign Minister Maris Riekstins raised the issue of seeking mutual possibilities for expanding political and economic relations also at the regional level. As part of the meetings, the parties reviewed the current developments in Kuwait's neighbouring countries, including Iran and Iraq, as well as looked at the Middle East peace process.

Within the framework of the visit, Foreign Minister Maris Riekstins and Minister of State for Cabinet Affairs and acting Foreign Minister, Roudhan Abdul Aziz Al-Roudhan signed the Convention between the Government of the Republic of Latvia and the Government of the State of Kuwait for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital, which is a vital prerequisite for the development of mutual business co-operation.

Today, on 10 November, Minister Riekstins and the Latvian entrepreneurs delegation are to meet with the Kuwaiti Minister of Commerce, to visit the Kuwait Investment Fund and to participate in a round table discussion at the Chamber of Commerce and Industry of Kuwait.

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