Vienna (BMWA/OTS) - Today the Minister for Economics Martin Bartenstein received the Latvian Minister for Economic Affairs, Arturs Krisjanis Karins, for a working discussion. The talks mainly focused on European energy policy, implementation of the Lisbon Strategy, the status of WTO negotiations and the SME initiative which the Austrian Presidency is preparing jointly with the Commission for the spring summit in March.
According to Minister Bartenstein, the Latvians had assured the Austrian Presidency of support in many areas. For instance, the Latvian Minister welcomed the planned SME initiative, since small and medium-sized enterprises are a very important part of the Latvian economy. The Austrian Presidency's initiative to place greater emphasis on security of supply and sustainability in the field of energy policy also met with Latvia's approval.
Mr Bartenstein said he was pleased by the thriving development in economic relations between the two countries. Austria is the 13th most important foreign investor in Latvia with an investment volume of EUR 44.5 million. In 2004 Austria's exports to Latvia rose by 14.8% to EUR 88.3 million and by 24.8% to EUR 88.4 million over the period January to October 2005. On the other hand, Austria's imports from Latvia in 2004 increased by 15% to EUR 21.9 million, while they decreased by 9.4% to EUR 16.7 million over the period January to October 2005.
Austria's most important export products to Latvia in the first six months of 2005 were gaming machines, glassware and pharmaceuticals. The main imports in 2004 were timber, furniture and clothing.
Photographs of the meeting are on www.bmwa.gv.at ready for downloading.
Contact:
Federal Ministry for Economics and Labour
Office of the Minister: Holger Fürst, Tel.: (01) 711 00-5193
Press officer: Harald Hoyer, Tel.: (01) 711 00-5130
mailto: presseabteilung@bmwa.gv.at
Internet: http://www.bmwa.gv.at
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