Latvia-India Business Conference underlines the future cooperation potential

In May, Latvia hosted Latvia-India Business Conference. Organized by the Investment and Development Agency of Latvia in cooperation with the Embassy of India in Stockholm, the conference gathered approximately 150 enterpreneurs from Latvia and 60 counterparts from India.

The large Indian delegation represented a wide range of industries. The conference included six panel discussions on most perspective cooperation industries between the two countries: transport and logistics, education, life science, technologies (R&D) and ICT. During the conference, the Latvian Chamber of Commerce and Industry and The Council of EU Chambers in India signed the Memorandum of Understanding to foster the cooperation between the two countries.

During the conference, Indian Minister of State for External Affairs Mobashar Jawed Akbar met with the President of Latvia Raimonds Vejonis. The President said during the meeting that India is becoming an increasingly important foreign trade partner to Latvia. He also noted that the dialog between Latvia and India needs to be further expanded in such areas as education, information and communications technology, transport and logistics, and he urged Indian enterpreneurs to make use of the advantageous geographic position of Latvia and the country's developed transport infrastructure. Vejonis also expressed satisfaction at the increasing number of student and lecturer exchanges and implementation of various Latvian-Indian cultural cooperation projects.

Additionally, Akbar met with the Minister of Foreign affairs of Latvia, Edgars Rinkēvičs. During the meeting, Rinkēvičs said he appreciated the successful development of Latvia-India relations and emphasised the need for a continued exchange of high level visits. In the context of the promotion of economic cooperation, the ministers noted in particular the potential for contacts in the sectors of IT and the transport and logistics. Akbar said India has been seeing rapid economic growth over the past years, and that the conference is a vital step towards closer cooperation. It was noted with appreciation that the interest of young people from India in Latvia’s higher education institutions is increasing year by year – there were 750 Indian students in Latvia at the beginning of 2016/17 academic year. Akbar also emphasised that cooperation in education and science is conducive to closer relations between the states.

Source: Ministry of the Foreign Affairs of the Republic of Latvia, The Baltic Course