Summed up

Jun 29, 2000

NEW STRATEGY: The Estonian government approved a strategy paper for the agricultural sector which means Estonia will comply with EU criteria. Estonia's aim is to adopt the measures of EU's common agricultural policy. The document said the people employed in the agricultural industry should make up 6 percent to 7 percent of the total of the working population in Estonia.

POWER: Estonia's minister of economics said both the large power stations in northeast Estonia must be renovated. The minister said this could be financed by the U.S. company NRG. The renovation is linked with Estonia's goal to privatize the government-owned company. New boilers are needed so the station is capable of being self-sufficient. The renovation will not affect consumers too much, said the ministry, but is needed to relieve Estonia's need to import energy.

INTERNATIONAL STANDARDS MET IN LATVIA: Fortech has received the ISO 9001 certificate for global standards. Fortech's chairman, Janis Bergs, said the company is pleased with receiving the award. "It shows our company is a trustworthy supplier and gives our customers a guarantee they can rely on," said Bergs. Fortech's non-audited profit was almost 1 million lats ($1.6 million) on a turnover of 11.6 million lats.

WAIT FOR HER: Latvia's president, Vaira Vike-Freiberga, did not want to be left out of Latvia's celebration of the summer solstice. "Jani" celebrations started early and businesses cashed in on the action. The president joined celebrations in Dome Square to support the farmers of Latvia who organized the day. Riga's town square was filled with a variety of stalls to offer tourists and residents a chance to buy a little bit of culture.

SMELL THE CHEESE: The Lithuanian cheese maker, Vilkyskiu Surine, has made $225,000 in profit. The figures have pleased the company because this profit has occurred in the first five months of this year. Last year's profits should be surpassed incredibly, said Gintars Bertasius, dairy director. Exports have contributed to the company's growth. The biggest overseas buyers are from Denmark, where 500 tons of cheese were exported.

LITHUANIA SEEKS COMPROMISE: The Lithuanian oil company Klaipedos Nafta wants to change certain items in the long-term contract it signed with Mazeikiu Nafta at the end of last year. Mazeikiu Nafta, which received a 10-year discount in the cost of oil transportation services, said it will not be able to meet obligations of its contract with Klaipedos Nafta. Mazeikiu Nafta said it will not be able to extend the oil pipeline to Klaipeda by the end of this year. Klaipedos Nafta's general director Petras Pareigis said Mazeikiu Nafta's plans to export 3.5 tons of oil products next year are unrealistic if there is no pipeline.

LOCAL FEED IN LATVIA: Marking a new cornerstone in the speedy development of information and communications market in the Baltics, the first local newswire service became available for the mobile phone user on June 26. The Latvian branch of the Baltic News Service, in cooperation with the Latvian mobile phone provider Baltcom GSM, made its newsfeed available to all Baltcom GSM users. The new service for Baltcom GSM clients will be in effect until the end of 2000.

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