Latvia-Russia business ties strengthened

MOSCOW 's Latvian Ambassador to Russia, Andris Teikmanis, presided at the opening of the Latvia-Russia Business Council at the Russian Chamber of Commerce and Industry in the Russian capital, July 2.

Teikmanis drew the attention of those present to the need to develop a bilateral legal framework and noted that the signing of the Convention on Prevention of Double Taxation and Promotion and Mutual Protection of Investments would be a significant contribution to economic co-operation between the two countries.

In his address, Yevgeny Primakov, the President of the Russian Chamber of Commerce and Industry, stressed the positive development of economic relations and the growth of bilateral trade between Latvia and Russia.

At the inaugural meeting of the Latvia-Russia Business Council, Pyotr Aven, president of the Russian Alfa-Bank, was appointed Chairman of the Council.

The Latvia-Russia Business Council will have a role in the promotion of bilateral economic relations and business projects.