Today, on 22 May 2024, the 10th meeting of the Intergovernmental Ukrainian-Latvian Commission on Economic, Industrial, Scientific and Technical Cooperation took place in Kyiv.

The Intergovernmental Commission was co-chaired by Viktors Valainis, Minister for Economics of the Republic of Latvia, and Oleh Nemchinov, Minister of the Cabinet of Ministers of Ukraine.

Oleh Nemchinov noted that the Commission was the main mechanism for dialogue coordination between the countries. And all agreements are the basis for mutually beneficial cooperation.

The Latvian side, in turn, noted that Latvia was working to create a solution for an alternative transit corridor in order to continue joint efforts with Ukraine in the field of international trade. In addition, Latvia is ready to share its experience in the area of energy sector independence.

At the end of the event, the parties adopted the Joint Statement of the Co-Chairs of the 10th meeting of the Intergovernmental Ukrainian-Latvian Commission on Economic, Industrial, Scientific and Technical Cooperation.

As the Joint Statement reads, over the past ten years, Ukraine and Latvia have made significant progress in the economic, infrastructure and social spheres. The two countries have strengthened trade ties, increased mutual investment and launched joint projects that have contributed to economic growth and improved the well-being of their citizens. In particular, the importance of joint projects in the transport sector is worth noting. Modernisation of transport corridors connecting the two countries will ensure fast and reliable transportation of goods and services. These projects are key to developing the economies of both countries and strengthening ties between their peoples.

In addition, the Statement defines that digitalisation will become another important area of joint cooperation. The plans include projects to develop digital infrastructure, introduce the latest technologies and support start-ups, which will contribute to the innovative development of the economies of both countries.

Looking to the future, the parties have identified the next decade as a period of even greater rapprochement between the countries. One of the main themes of this period will be Ukraine’s full membership in the European Union. This will not only be a symbol of a common commitment to European values, but will also open up new opportunities for cooperation and growth.