Latvia's Economic Relationship with Canada
for the first half of 2004
(data from Latvia's Central Statistical Bureau)

Trade missions of Canadian business representatives, headed by Canadian MP Sarmīte Bulte, herself of Latvian heritage, went to Latvia as part of Baltic Express (1998) and Baltic Express II (2000). A round table on business opportunities in the Baltic States was held at the (then named) Ministry of Foreign Affairs and International Trade in May 2002 and in May 2003. A similar forum took place in Montreal (December 2002), in Toronto (June 2003) and most recently in Vancouver (March 2004)

Established in 1999 the Canada Latvia Business Association has its registered offices at the Canadian Embassy in Riga, with objectives including fostering business, educational and cultural ties between Canada and Latvia and facilitating networking.

An important contribution to Canadian-Latvian bilateral relations has come from projects implemented in Latvia by the Canadian International Development Agency (CIDA). During the 10 years from 1992 to 2002, funds for 76 Latvian projects were approved at a total price tag of approximately $10 million CAD (about 4 million LVL). Another12 projects were being implemented as of 2002 and the first regional meeting of CIDA was held in Riga from 6-9 May 2002.

Though Latvia's development positioning has changed with inclusion in the EU and NATO, and with progress in many targeted sectors, CIDA's priority areas for activity in Latvia specifically and the Baltics in general were social integration, judicial reform, and reform of the health and social welfare system. Among the many projects of note financed by CIDA in Latvia are the establishment of the Latvian Translation and Terminology Centre; the CUBE (Canadian-Ukrainian-Baltic) Economic Management Programme project; the UNDP Latvian Language Training project and the Baltic-Canadian Municipal Co-operation project. A new chapter of co-operation for Latvia and Canada has now begun.