Baltic States – CIS, Good for Business, Investments, Latvia, Markets and Companies, Ukraine

Anatoliy Oliynyk at the media breakfast organized by LETA. Riga, 15.12.2011. BC'c photo.

Oliynyk pointed out that in the first nine months of 2011 the turnover of goods between Latvia and Ukraine grew 29.1%, compared to the respective period last year, and amounted to USD 237.4 million (LVL 125.82 million).

On the other hand, Latvian investments in Ukrainian economy totaled USD 74.8 million (LVL 39.64 million) in the first half-year, whilst Ukrainian investments in Latvian economy – USD 87 million (LVL 46.11 million). The ambassador emphasized that Latvia is Ukraine's third largest investment partner. Ukraine invests more only in Cyprus and Russia. Compared to 2010, Ukrainian investments in Latvian economy have increased 2.7 times.

Ukraine is interested in strengthening the economic cooperation with Latvia and increasing trade volume, thus expanding into the European market. The ambassador said that residents of Latvia have surely noticed that there are more Ukrainian goods in Latvian stores. At the same time, Latvian antiischemic agent of a metabolic action "Mildronate" has been recognized as the best cardiovascular medicament in Ukraine this year.

Oliynyk believes Latvian-Ukrainian economic cooperation is fostered by the fact that there are no political problems between both countries. It is a mutually beneficial partnership, based on sympathies and trust.