Foreign Minister Maris Riekstins encourages businesses to make use of opportunities offered by Kuwait [11 Nov 2009]

At the conclusion of his official visit, Foreign Minister Maris Riekstins, accompanied by a delegation of Latvia's businessmen representing AirBaltic, the Riga Free Port Authority, ITERA Latvia and SWH Sets, met with the Kuwaiti Minister of Commerce and Industry, the Chamber of Commerce and Industry of Kuwait, and the administration of the Kuwait Investment.

During these meetings, the parties reviewed the prospects for Latvian-Kuwaiti economic cooperation, the formation of direct contacts between businesses of both countries in specific sectors – energy, transport and logistics, civil aviation and air freight, and information technologies. The Latvian side also declared its interest in exporting pharmacy and food products to the State of Kuwait.

At the Chamber of Commerce and Industry of Kuwait, Latvia's entrepreneurs had an opportunity to present their sector and to outline potential directions of co-operation. A verbal agreement was achieved about the strengthening of mutual contacts between the Chambers of Commerce and Industry of Latvia and Kuwait and exchange visits by the interested businesses in the nearest future. Both sides shared the opinion that the profile of Latvia and the Baltic region should be enhanced in the State of Kuwait, and vice versa, by promoting a mutual accessibility of information on business opportunities and the investment environment.

"On the Kuwaiti side, their openness and readiness for co-operation was confirmed both at the level of the Government and the private sector. Further action now lies with the entrepreneurs, in order to use this positive political signal as grounds for contact building and promoting Latvia's products, services and investment possibilities," noted Foreign Minister Riekstins.

At the conclusion of the visit to the State of Kuwait, the Foreign Minister of Latvia and the Minister for Transport of Kuwait and Minister of State for Cabinet Affairs, Dr. Mohammed Mohsen Al-Busairi signed the agreement between the Government of the Republic of Latvia and the Government of the State of Kuwait on air traffic, thus providing legal framework for further co-operation in the field of civil aviation between the national airlines of Latvia and Kuwait.

On 11-12 December, Foreign Minister Maris Riekstins with the business delegation will continue the visit to the region, and meet with the officials of the United Arab Emirates and business representatives in Abu Dhabi and Dubai.

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