Belarus and Latvia need to move away from intermediary services in trade - Kosinets

Belarus and Latvia need to move away from intermediary services in trade. This was stated today by the Chairman of the Vitebsk Regional Executive Committee, Alexander Kosinets, at a meeting with the Minister of Foreign Affairs of Latvia, Edgars Rinkēvičs, as reported by a BELTA correspondent.

Belarus and Latvia need to move away from intermediary services in trade. This was stated today by the Chairman of the Vitebsk Regional Executive Committee, Alexander Kosinets, at a meeting with the Minister of Foreign Affairs of Latvia, Edgars Rinkēvičs, as reported by a BELTA correspondent.

"Belarus and Latvia are linked by good-neighborly friendly relations and effective cooperation in all areas," Alexander Kosinets emphasized at the meeting, citing interaction with the Vitebsk region as an example. Thus, in 2012, the region's trade turnover with the Republic of Latvia amounted to $115.1 million, or 107.9% compared to the 2011 level. Exports reached $98.5 million (106.4% respectively), imports - $16.6 million (117.3%). Among the main goods exported to Latvia from the Vitebsk region are petrochemical products, wood products, and consumer goods. Imports mainly include vehicles, medicines, animal feed, and other products.

The Chairman of the Vitebsk Regional Executive Committee expressed confidence that the mutual trade turnover between the Vitebsk region and Latvia can be increased manifold. He sees the main obstacle to this in intermediaries involved in the trade chain who significantly affect the final cost of goods. "We need to move away from their services and conclude direct contracts," Alexander Kosinets stressed.

To provide a broader overview of the Vitebsk region's capabilities, Alexander Kosinets invited the head of the Latvian foreign ministry to familiarize himself directly with the region's industrial potential at an exhibition of enterprises, which is taking place today at the Vitebsk Regional Executive Committee.