RIGA - While visiting the South Korean electronics company Samsung during her official visit to South Korea on May 22, Latvian Saeima Speaker Solvita Aboltina (Unity) said that Latvia highly values the company’s decision to make Riga its regional center of commercial operations, reports LETA.
“Latvian residents are well acquainted with Samsung products, thus we invite the company to continue expanding its operations in Latvia,” Aboltina said.
Samsung is one of the largest investors in Latvia from the Asia region, which is why Aboltina talked about Latvia’s advantages in her meeting with the company’s management – a favorable geographical location and cooperation experience with Russia and other countries of the former Soviet Union. Aboltina said Latvia is a perfect location as a gateway to the markets of Russia and the Commonwealth of Independent States, emphasizing that Latvia continues to support and participate in various projects in this region.
At the same time, describing Latvia’s advantages, the Saeima speaker also pointed out Latvia’s important role in Europe’s transit and logistics system, taking into account the country’s developed rail and port infrastructure, as well as a competitive work-force. This is proven by the fact that the United States and other Western countries use Latvian ports and transit infrastructure to transport non-military cargo shipments to Afghanistan.
Aboltina also praised Samsung as an active and socially responsible investor in Latvia and the Baltic region, and its activities include participation in projects in such areas as healthcare, education and sports.
“Latvia is interested in forming constructive, long-term and active bilateral relations with South Korea. This visit proves our commitment. All the pre-conditions are in place to expand economic cooperation,” Aboltina added.
Also during the meeting, the situation within Latvia’s national economy was also discussed. Aboltina emphasized that Latvia’s economy continues to show rapid growth, as gross domestic product growth in the first quarter of the year - 5.6 percent - was the fastest in Europe. At the same time, she added that these achievements allow Latvia to move closer towards its strategic goal of becoming a member of the Organization for Economic Cooperation and Development (OECD), as well as joining the eurozone.
Aboltina was on an official visit to South Korea from May 21 to 25, where she was to meet with several of the country’s top officials, business leaders, as well as cultural representatives.