Development of Economic Cooperation at the International Level: Ukrainian-Latvian Business Forum Held in Vinnytsia

On May 24, Vinnytsia hosted a large-scale international event, the Ukrainian-Latvian Business Forum. The event brought together representatives of diplomacy, local government and executive authorities, as well as businesses from Latvia and Vinnytsia. The main topic of the forum was further cooperation between our countries and the development of economic ties.

Edmunds Valantis, State Secretary of the Ministry of Economy of the Republic of Latvia, and Ilgvars Kļava, Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia to Ukraine, headed the delegation of Latvian businessmen. During the forum, they were familiarized with the economic potential of Vinnytsia community and the region.

In fact, the Ukrainian-Latvian Business Forum has become a kind of platform for Vinnytsia and Latvian entrepreneurs working in various industries to meet each other so that they can implement joint projects and develop their capacities in the future. The communication took place in the format of B2B meetings. The delegates also visited industrial parks that are actively developing machine-building and other industries, as well as enterprises that ensure food security for the community and the country.

In his welcoming remarks, Vinnytsia Mayor Serhii Morhunov noted that such a forum is a landmark event for our city, which will enable us to further develop cooperation with European countries and strengthen the economic capacity of our community and country. According to him, this is currently an important component for ensuring defense capability and further reconstruction that awaits Ukraine after the victory in the war with russia.

"I would like to thank the Republic of Latvia, its Government and leadership, as well as the people of Latvia for their incredible support of Ukraine in our fight against the russian aggressor. Latvia is a relatively small republic compared to other EU members, but it puts a lot of effort into supporting our people. As a local government body, we always say that horizontal ties in various areas of community and state life can be quite strong, reliable and effective. It is very important that Latvian business can find ways to cooperate and implement joint projects. Speaking of post-war recovery, it will be harder for us to move forward without the support of our partners and investors, the latest technologies and effective practices. It is important that Ukraine is a candidate for EU membership, so understanding the legal framework and rules of the game for business is an important element for cooperation and dialogue between our and Latvian businesses," said Serhii Morhunov.

Viacheslav Sokolovyi, Chairman of Vinnytsia Regional Council, thanked the Latvian partners for helping Ukraine in this difficult time and expressed hope for the development of cooperation on mutually beneficial terms. Deputy Head of the Vinnytsia Regional Military Administration Serhii Zditovetskyi added that the city and the region greatly appreciate the visit of such distinguished guests from a country that faithfully supports our country.

Edmunds Valantis, State Secretary of the Ministry of Economy of the Republic of Latvia, noted that he believes that ties between our countries will help in the fight against the aggressor:

"I am glad that we have such a large organization of entrepreneurs from Latvia and the opportunity to open a new page of cooperation between Vinnytsia and Latvia, and I have great hope that this forum will be fruitful and we will be able to establish useful contacts. Our task is to continue to help Ukraine as much as we can," Edmunds Valantis emphasized.

Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia Ilgvars Kļava is also convinced that the live meeting is a great platform for establishing ties that will be useful for both countries, particularly in the field of agriculture:

"Today's meeting will benefit our countries. In order for Ukraine's economy to function and generate profits, Latvia can cooperate with and support Ukrainian businesses. We want Ukraine to win this war as soon as possible and we see prospects for cooperation in the agricultural sector. Currently, we are facing the task of import substitution of products from russia and we want to replace them with Ukrainian products," said Ilgvars Kļava.

During this meeting, the entrepreneurs shared their successful cases and discussed the possibility of mutual trade and exports, supply of machinery and equipment for the municipal sector, etc.