The Belarusian-Latvian Forum of Regions Opens in Vitebsk
The two-day event is one of the most important economic events of the Days of Latvia held in Belarus. The Latvian delegation will include over 120 people – representatives of public administration bodies, the Embassy of Latvia in Belarus, business organizations and enterprises involved in light industry, woodworking, transport and logistics, finance and trade. At the forum, they will discuss a wide range of issues concerning trade and economic, investment and interregional cooperation with their Belarusian counterparts. The signing of several cooperation agreements is planned.
The business forum is held with the aim of developing economic cooperation and establishing business contacts between entrepreneurs of the Vitebsk region and Latvia, attracting investment, intensifying bilateral cooperation, as well as increasing the investment and innovation attractiveness of the northern region.
Regarding the current state of relations between the Vitebsk region and Latvia in various spheres, the regional executive committee noted that the foundation for contacts between cities and districts was laid by the Euroregion "Lake Land", which was established in Kraslava on May 21, 1998. It includes all districts of the Vitebsk region bordering Latvia, the regions of Latgale, and the border regions of Lithuania. This is the largest public association in Belarus and the Baltic States within the framework of cross-border cooperation, uniting 27 administrative units.
Under the "Latvia-Lithuania-Belarus" program, approximately 30 joint projects have been implemented in the fields of culture, tourism, and sports. Completed projects include "Art Without Borders - Cooperation of Marc Chagall and Mark Rothko Museums," "Bella Dvina," "Bella-Kuzina," "Dvina-Daugava Panorama," "Fascinating Cycling Network in the Lake District," "Museum Gates," projects for the prevention of environmental disasters, construction of sports grounds, and development of local craft houses. For the new call for applications under the "Lithuania-Latvia-Belarus" program, 20 joint project proposals have been submitted in the fields of culture, sports, education, healthcare, and emergency services. Latgale regions are acting as lead partners.
Trade and economic cooperation is dynamically expanding. According to the results of January-September of the current year, the volume of trade turnover between the Vitebsk region and Latvia amounted to $61.8 million, or 151.1% compared to the same period last year. The value of exports reached $45.9 million (growth rate - 147.3%), and imports - $15.8 million (165.3% respectively). The foreign trade balance surplus was positive, amounting to $30 million. Latvia is consistently among the top ten major trading partners of the Vitebsk region. Key export commodity items include wood processing products (50% of all supplies), petroleum products (10% share), polyethylene (5%), as well as liquefied gases, polymer packaging, cable products, textiles, garments, and footwear. This year, supplies of products to the Latvian market have been expanded by commercial organizations exporting wood processing products, fuel wood, metal profiles, clothing, and wooden tableware. Supplies of rapeseed oil for technical purposes have been resumed.
Imports include animal feed mixes, plastics, paper and cardboard, haberdashery for sewing ready-made garments from tolling raw materials, forestry equipment, and medicines.
Currently, 86 organizations with Latvian capital are registered in the Vitebsk region. The "DIA-PLAST" enterprise for the production of packaging from polyethylene and polypropylene films operates in the FEZ "Vitebsk". The FEZ is ready for further implementation of projects on production cooperation. Joint ventures are registered in the fields of trade, woodworking, provision of motor transport services, and clothing tailoring services. Prospects for further investment cooperation are determined by joint projects for the production of machine-building products based on production cooperation, as Latvia can import metal and electronics under the free economic zone conditions, and from Belarus - blanks for assembling finished products, which are then planned for export to EU countries.