Ambassador Andris Razāns draws attention to Latvia’s achievements in economic development

13.01.2016. 16:07

On 12 January, Andris Razāns met with Bruce Andrews, the U.S. Deputy Secretary of Commerce,to discuss bilateral cooperation in the area of investment and trade, and the priority sectors for economic cooperation. During the meeting, the Deputy Secretary of Commerce highlighted the potential for cooperation in the area of innovation and information technology. 

Andris Razāns underlined improvements that have been made in the business environment in Latvia including strengthened supervision of commercial banks, success in finding new markets for exports, and the Latvian government's steady course toward liberalisation of the natural gas market through separation of the gas supply and delivery from the supply infrastructure. By fulfilling the set criteria, Latvia continues on track to accession to the Economic Co-operation and Development Organisation (OECD) in the near future. The Ambassador invited the United States to support these goals, and for high level visits to Latvia, aiming to attract U.S. investors looking for new opportunities in the Baltic Sea region. Bruce Andrews recognised that the economic success of the Baltic States, including that of Latvia, is clearly in the interests of the United States.

Ambassador Razāns and Deputy Secretary of Commerce Andrews agreed on the potential contribution of the EU-US Transatlantic Trade and Investment Partnership (TTIP)to reinforcement of the economic ties between Latvia and the U.S. and to robust growth across the Transatlantic area, and that it is important to explain the benefits of the TTIP and dispel misconceptions and baseless prejudices concerning this ambitious trade agreement.