Latvia-Russia business ties strengthened

MOSCOW 's Latvian Ambassador to Russia, Andris Teikmanis,presided at the opening of the Latvia-Russia Business Council at theRussian Chamber of Commerce and Industry in the Russian capital, July2.

Teikmanis drew the attention of those present to the need todevelop a bilateral legal framework and noted that the signing of theConvention on Prevention of Double Taxation and Promotion and MutualProtection of Investments would be a significant contribution toeconomic co-operation between the two countries.

In his address, Yevgeny Primakov, the President of the RussianChamber of Commerce and Industry, stressed the positive developmentof economic relations and the growth of bilateral trade betweenLatvia and Russia.

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

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