France Supports Introduction of Euro in Latvia
OREANDA-NEWS. March 29, 2013. During the meeting with Prime Minister Valdis Dombrovskis, Ambassador of France to Latvia Stephane Visconti confirmed France's support to Latvia's objective to join the euro area, as well as to accede to the Organization for Economic Cooperation and Development (OECD). The officials discussed the Prime Minister's visit to France to be held on April 18 and 19, 2013.
During the introductory visit, S. Visconti said that France is pleased with the intensive involvement of Latvia in the European Union and solving the current issues of the euro area.
He emphasized that January 1, 2014, is an important date not only for Latvia, but also for all Member States of the euro area. "Solidarity of Member States and involvement in the development of the region is of utmost importance for the euro area; therefore, economic stability of each Member State plays a crucial role. Latvia has proved that it can achieve the economic breakthrough and meet the Maastricht criteria. It has to join eiro," said the Ambassador.
The Prime Minister also highlighted Latvia's accession to the OECD, stating that it is one of the country's foreign policy priorities. V.Dombrovskis expressed gratitude for the support of France to Latvia's objective to join the OECD that was also mentioned by the Ambassador of France.
Within the framework of the meeting, the parties discussed the forthcoming official visit of V.Dombrovskis to France next month, which will take place at the invitation of Prime Minister of France Jean-Marc Ayrault. During the visit, V.Dombrovskis will meet President of France Francois Hollande and Prime Minister of France Jean-Marc Ayrault. The officials will discuss bilateral cooperation, the introduction of the euro in Latvia, accession to the OECD, as well as preparation for Latvia's presidency of the EU Council. S.Visconti also mentioned that the overcoming of crisis could be one of the issues raised by the French party because it is a positive example that can be learned by other countries.
The parties acknowledged that the countries have developed a very good political dialogue and relationship in various fields, including culture. At the same time, the officials acknowledged that, given the decline in bilateral trade intensity, it is necessary to further improve the economic cooperation.
For example, the Ambassador mentioned the initiative to organize a business forum in Riga that would allow the French and Latvian entrepreneurs to establish co-operation and develop new markets.
V.Dombrovskis also thanked the Ambassador for the support of France to air policing over Latvia. The officials acknowledged that the cooperation in the field of security should be continued. The Ambassador of France expressed his appreciation for the contribution of Latvia to settling Malian conflict.
Indicators of trade between Latvia and France
According to the total trade turnover of EUR 313.19 million, France ranks the 15th among the foreign trade partners of Latvia. The total trade turnover with France has decreased by 7.77% compared to 2011. The turnover of trade in services with France amounts to EUR 21.17 million (exports - EUR 10.73 million, imports - EUR 10.44 million). Despite the fact that the turnover of trade in services with France has decreased by 23.8% compared to three quarters of 2011, Latvia and France have a positive balance of trade in services.
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