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Latvian investments in Vitebsk Oblast 3.5 times up in January-September 2019

Economy 29.11.2019 | 16:44
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Archive photo

VITEBSK, 29 November (BelTA) – In January-September 2019, Latvian investors injected $2.1 million into Vitebsk Oblast, which was up by 3.5 times year-on-year. This matter was on the agenda of a meeting between senior officials of the Vitebsk Oblast Executive Committee and Latvian Ambassador to Belarus Einars Semanis, BelTA has learned.

In January-September 2019, trade between Vitebsk Oblast and Latvia amounted to $53.1 million. Vitebsk Oblast enterprises exported $42.7 million worth of products, import came at $5.9 million. Major exports to Latvia included woodworking products, chemical compounds, oil products, packing containers, and cable products.

“In January-September 2019, the volume of Latvian direct investments in Vitebsk Oblast equaled $2.1 million, which was 3.5 up over the same period of 2018,” the Vitebsk Oblast administration noted.

A total of 90 companies with Latvian investment operate in Vitebsk Oblast. They work in trade, woodworking, transport services, tailoring, and manufacturing of plastic goods. Vitebsk Oblast districts and cities have concluded 33 cooperation agreements with Latvian cities and municipalities. Vitebsk Oblast and Latvia have also launched 17 cross-border tourist routes, 14 of which have been developed under international assistance projects.

Euroregion Country of Lakes, a large public association of local governments, has existed for over 25 years. In unites 37 local governments of Vitebsk Oblast, Latvia, and Lithuania. The association lays the groundwork for projects under the cross-border cooperation program Latvia-Lithuania-Belarus.

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