Foreign trade turnover between Vitebsk region and Latvia in January-August amounted to $41.2 million.

October 23, Vitebsk / Diana Kurilo - BELTA /. Latvia is an important trade and economic partner of the Vitebsk region among far abroad countries and EU member states, stated today at a meeting with the Consul of the Republic of Latvia in Vitebsk Margarita Steina the Chairman of the Vitebsk Regional Executive Committee Alexander Kosinets, BELTA correspondent reports. Since 2007, Latvia has been among the top four consumers of products from enterprises of the Vitebsk region from non-CIS countries, second only to the Netherlands, Great Britain, and Estonia. The foreign trade turnover of the region with the Republic of Latvia for 8 months of 2009 amounted to $41.2 million. The trade balance surplus was positive at $33.2 million. As Alexander Kosinets noted, Latvian companies predominantly purchase raw materials with low added value for further sale to Europe. In this regard, the Vitebsk Regional Executive Committee proposes to orient Latvian companies towards organizing their own production facilities in the region, obtaining highly processed products, and utilizing the capabilities of Latvian ports as special economic zones for promoting finished products with Latvian certification to far abroad countries. 42 companies with Latvian capital are registered in the region. In 2009, Latvian investors established 8 enterprises with 100% foreign capital, 6 of which chose housing construction as their main activity. The Chairman of the Regional Executive Committee proposed that the Consul in Vitebsk convey to interested Latvian entrepreneurs proposals on establishing enterprises in the region for the production of building materials, fuel from wood processing waste, and the construction of tourism infrastructure and roadside services. -0-