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Prime Minister: new step is made to stimulate Latvian-Japanese cooperation

Māris Kučinskis/flickr.com/State Chancellery.
A new step has been made towards stimulating cooperation between Latvia and Japan in political and economic field. Latvia is not large enough for our businesses to focus solely on the domestic market. Our country has a rapidly-growing economy with a free market ready to make major steps towards transnational cooperation, said Prime Minister of Latvia Māris Kučinskis during his visit in Tokyo.

On Friday, 8 December, Kučinskis met with Japan’s International Friendship Exchange Council Ken Matsuzawa, as well as leaders of leading Japanese companies interested in business opportunities in Latvia.

The two sides agreed that now is the best time for intensive economic cooperation between Latvia and Japan, considering the potential for business development.

Japanese businessmen expressed an interest for cooperation opportunities with Latvia mainly in the field of transports, logistics and tourism. Representatives of Japanese companies also expressed an interest in Latvia’s energy policy, as well as cooperation in medicine and pharmaceuticals. When it comes to logistics and transport, Latvia positions itself as a major hub with three warm water ports, highly developed railway infrastructure and the largest airline in Baltic States.

Kučinskis and his Japanese colleagues also discussed the possibility of speeding up the signing of the EU-Japan Free Trade Agreement.

Māris Kučinskis had said the opening of World FinTech Day Latvia business seminar in Tokyo earlier this week that Latvia has a unique synergy between traditional finance sector and fintech companies. People there constantly come up with new solutions to make Latvia the first choice for fintech company headquarters.

He also said most start-up companies in Latvia work in fintech industry.

«Fintech industry’s success story is based on the fact that Latvia is the financial centre of the Baltic region,» Kučinskis said.


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