Edition: English | 中文简体 | 中文繁体 Монгол
Homepage > Biz Video

Brief look at China-Latvia relationship

Reporter: Laura Luo 丨 CCTV.com

11-04-2016 16:17 BJT

Full coverage: Premier Li Visits Kyrgyzstan, Kazakhstan, Latvia and Russia

Premier Li Keqiang is heading for Latvia on Friday. What are China's diplomatic and economic ties with the country in eastern Europe? Let's get you a snapshot. 

China and Latvia established diplomatic relations in 1991 when the two countries signed a joint communique in Riga. Since then, the two countries have signed about 20 documents involving trade, investment, technology, cultural exchanges and education.

China and Latvia also have established an inter-governmental trade and investment commission as a channel to promote bilateral economic ties. The commission meets every two years alternately in Beijing and Riga.

Data from China’s Commerce Ministry show that bilateral trade between the countries stood at 130 million US dollars in 2003. That number since grew at an average annual rate of 27 percent to a record-high 1.5 billion US dollars in 2013. Trade declined by 0.7% percent in 2014 and by about 20 percent last year.

Latvia is covered by China’s "One Belt and One Road" initiative. Data from Latvia’s central bank show foreign direct investment from China added about 2.5 million euros in 2015, increasing 75 percent from a year ago. China’s existing direct investment totaled 5.8 million euros in Latvia by the end of last year.

The first China-Central and Eastern Europe Countries Transport Ministers Meeting was held in Riga last May. The ministers discussed cooperation involving the integration of transportation networks and cargo deliveries. They also adopted the Riga Guidelines on Closer Cooperation in Logistics.

 

 

Follow us on

  • Please scan the QR Code to follow us on Instagram

  • Please scan the QR Code to follow us on Wechat