Meeting of Moldovan-Latvian commission for economic cooperation held after eight-year break

The Moldovan-Latvian intergovernmental commission for economic, industrial, technical and scientific cooperation today held a meeting in Riga, after an eight-year break. During the event, the fourth Cooperation Protocol between the two countries was signed, with the aim of doubling the volume of bilateral trade.

“This meeting is not just a formal event, but a clear signal that we want and can take our collaboration to a new level. We want to double the volume of bilateral trade and increase the number of companies with Latvian capital to 100 from the current 63. These are just a few of the ambitious objectives we have set for the coming years together with our friends from Riga,” said Deputy Prime Minister, Minister of Economic Development and Digitization Dumitru Alaiba.

The Moldovan-Latvian cooperation protocol is a complex document covering 18 priority areas on the Moldovan-Latvian bilateral agenda. The document sets out concrete measures for medium and long-term cooperation, providing a framework for implementing bilateral initiatives.

The sides agreed to continue advancing and strengthening bilateral economic ties, promoting an environment conducive to trade and investment in areas of mutual interest, particularly in information technology, industry, agriculture, transportation, startups, renewable energy, consumer protection, regional development, and to enhance cooperation in energy efficiency.

The Latvian side expressed willingness to share experience on administrative and territorial reform, in order to strengthen the capacity of national, regional and local government levels in planning and implementing territorial development, as well as to promote entrepreneurship in regions.

The Latvian side also expressed interest in continuing cooperation with Moldova in the field of education (especially higher education) and science, including strengthening direct contacts between higher education and research institutions in both countries.

About 63 enterprises with Latvian capital work in Moldova, with investments in share capital amounting to 12 million lei. Latvia ranks 46th among the main investors in Moldova, in terms of the value of capital invested.