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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 14:52

Rinkevics highlights potential for Latvia-Vietnam economic cooperation

BC, Riga, 23.10.2017.Print version
On October 20, Latvian Foreign Minister Edgars Rinkevics met with the Vice President of Vietnam, Dang Thi Ngoc Thinh, who is in Latvia on a working visit, LETA learned from the Latvian Foreign Ministry.

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.






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