RIGA - If the decision to build a new gas-fired power plant in Latvia is made, Russia will be prepared to invest in the project's development, says Russian ambassador to Latvia Alexander Veshnyakov, reports news agency LETA.
Veshnyakov said that it is up to Latvia to decide on whom to cooperate with in implementing the project, but he says that "Russia has the experience, possibilities and the desire to develop long-term relations with Latvia through the realization of such a project."
At the beginning of May, Minister of Economy Artis Kampars (New Era) agreed with Veshnyakov on the necessity to promote cooperation between Latvia and Russia in the economy, power industry and the tourism sector. Kampars said that Russia is one of the most important foreign trade partners of Latvia.
At the meeting, Veshnyakov told Kampars about Russia's proposals for further cooperation in the power industry with the European Union. Vehnyakov pointed out that it is important to discuss the issues related to mutual responsibilities between gas suppliers, consumers and transit countries through which gas is transported to the EU countries in order to stabilize the mutual partnership.
According to Central Statistical Bureau data, the main export goods transported from Latvia to Russia in 2008 were food products, cars, machinery and electronic devices, chemical products, metals and fabricated metal products. Latvia's main import goods from Russia were fuel, oil and oil products, metals and fabricated metal products, chemical products, as well as wood and wood products.
In 2008, Russia ranked as the 7th largest investor in Latvia, with the total value of investments at 536.6 million dollars (377.8 million euros). Latvia's direct investments in Russia, though small in absolute numbers, stood at 89.6 million dollars, making Russia the fourth largest target country for Latvian investments.
The energy industry is not the only area in which Russia needs to improve its track record with investment and trade cooperation with its neighbors.
Though the lines of trucks waiting at the Latvia-Russia border has decreased over the past few days, reports Latvia's State Border Control, the backlog still has 400 trucks sitting at the border at the Terehova border crossing point, waiting for Russian customs' officials to allow passage. Problems remain as well at the Grebneva crossing point.
The truck waiting lines on the Latvian-Russian border, a common event, began to grow this year at the beginning of August, when the Russian Customs Service strengthened control, in other words, began its harassment, over all cargo transported by Lithuanian carriers.
