Economics, EU – Baltic States, Latvia, Legislation, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 14:52
Rinkevics highlights potential for Latvia-Vietnam economic cooperation
Photo: mfa.gov.lv |
The officials discussed bilateral relations between Latvia and Vietnam,
underlining the importance of a regular political dialogue and visits as well
as confirming their intention to expand economic cooperation. Rinkevics stressed
that the agreement on the avoidance of double taxation and the prevention of
fiscal evasion with respect to taxes on income signed during the visit will
foster bilateral economic cooperation and business contacts between both
countries.
The Foreign Minister called for working more actively together on the issue
of migration, and building cooperation between the relevant authorities of both
countries. Cooperation between Latvia and Vietnam in international
organizations was also discussed. The Foreign Minister solicited support from
the Vietnamese side for Latvia in the elections to the United Nations Security
Council.
In the context of relationship between the European Union and Vietnam,
Rinkevics welcomed the conclusion of negotiations on the EU-Vietnam Free Trade
Agreement and expressed hope that the entry into force of the agreement in 2018
will also dynamize bilateral cooperation between Latvia and Vietnam.
The visit saw the signing of an agreement on the avoidance of double
taxation and the prevention of fiscal evasion with respect to taxes on income.
The signatory for Latvia was the Minister of Economy, Dana Reizniece-Ozola, and for Vietnam – the Ambassador of Vietnam
to Latvia, Doan Thi Phuong Dung.
The Vice President of Vietnam is on a working visit on October 19-22. She
also met the President of Latvia, Raimonds
Vejonis and the Speaker of the Saeima (the Latvian Parliament), Inara Murniece. Next, Vice President
visited the Riga Technical University and the Latvian National Museum of Art,
as well as meeting with the Vietnamese community in Latvia.
Vietnam recognized Latvia's independence on September 9, 1991. Diplomatic
relations between the two countries were established on February 12, 1992.
The Ambassador of Vietnam to Latvia, Doan Thi Phuong Dung, resides in
Stockholm, and the Ambassador of Latvia to Vietnam, Maris Selga, resides in China.
The previous high level visit by a Vietnamese official to Latvia took place
in 1995, when Deputy Prime Minister Nguyen Han arrived on a working visit.
Vietnam is Latvia's largest trade partner in Southeast Asia. Total trade in
goods in the first half of 2017 amounted to EUR 60.85 million. Export and
import has increased by 85 percent and 15 percent respectively in comparison to
the same period in 2016.