Agreements signed

Latvian–Ukrainian relations have traditionally been friendly and dynamic. Since 1992 a constructive political dialogue has been started, a contractual basis covering practically all co-operation spheres has been developed, a functional Inter-Governmental Commission has been operating, and a solid trade turnover has been reached.

Recently the Latvian-Ukrainian bilateral relations have entered a new development phase. Latvia has become a member of European Union and NATO, Ukraine has clearly expressed its wish to join these organizations.

Latvia's priorities in co-operation with Ukraine are to continue a dynamic political and economical dialogue; to enhance the contractual basis, promote the establishment of new contacts; and support Ukraine's efforts in modernizing its national structures and integration into the European Union.

The next important step that brought these bilateral relations to another level was made in 1993 when Latvia opened its embassy in Kiev and Ukraine opened its embassy in Riga.

Latvia's Ambassador Extraordinary and Plenipotentiary to Ukraine is Andris Vilcans and Ukraines' Ambassador Extraordinary and Plenipotentiary to Latvia is Raul Chilachava.

In order to enhance the bilateral relations and expand co-operation, in September 2003 Latvia appointed an Honorary Consul in Odessa and Odessa Region. In July 2005, an Honorary Consulate was opened in Lviv.

In April 2006 Ukraine opened its Honorary Consulate in Ventspils.

Economic co-operation between Latvia and Ukraine has a good potential for development. Latvia's economic interests in Ukraine are determined by the wish to increase its share in the market of approximately 50 million inhabitants, and by the geographical position of Ukraine as the second largest European country. The main sectors of Latvian–Ukrainian economic co-operation are trade, and financial and other services.

Active and productive work of the Inter-Governmental Commission

Latvian-Ukrainian Inter-Governmental Commission has been established, whose task is to review by specialists and suggest solutions in matters related to bilateral relations.

Inter-parliamentary co-operation

Inter-parliamentary co-operation between Latvian and Ukrainian Parliaments is pursued actively. Members of both Parliaments exchange visits on a regular basis, and in both Parliaments inter-parliamentary co-operation groups have been set up.

Transfer of Latvia's EU integration experience

Ukraine has set integration into the EU structures as one of its foreign policy objectives. Latvia has been sharing its experience in this sphere with Ukraine through a number of projects related to the harmonisation of the national legislation, state administrative and economic reform, and others.

Trade (according to the data of the Central Statistical Bureau)

Year 2005

Export  

1.      Lithuania – 410 800 645 EUR or 10.44% of total Latvia's export

2.      Estonia – 405 691 012 EUR or 10.33%

3.      UK – 397 190 196 EUR or 10.17%

4.      Germany – 396 227 566 EUR or 10.10%

5.      Russia – 324 893 805 EUR or 8.26%

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18.   Ukraine - 56 633 712 EUR or 1.44%

Import

1. Germany – 897 582 695 EUR or 13.58% of total Latvia's export

2. Lithuania – 892 205 779 EUR or 13.47%

3. Russia – 588 791 146 EUR or 8.98%

4. Estonia – 511 121 913 EUR or 7.3%

5. Poland – 410 763 813 EUR or 6.22%

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12.    Ukraine  – 132 254 551 EUR or 2.02%

In 2005 Latvia had a negative trade balance with Ukraine in total of 75 620 839 EUR

Principal exports to Ukraine by commodity types in 2005 

Principal imports from Ukraine by commodity types in 2005 

The dynamics of Latvia-Ukraine trade between 1999 and 2005, EUR

* The calculations are made on the basis of  the average annual exchange rate from USD to EUR.

Investment

In 2005 Ukraine's accrued direct investment in Latvia were EUR 9,67 millions (according to the Bank of Latvia).

As at April 2006 there were 307 Ukrainian-Latvian joint ventures registered in the Latvian Enterprise Register (according to the Lursoft data base).

The Latvian–Ukrainian contractual basis consists of more than 50 agreements.

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