Economics Minister: Latvia could expand cooperation with South Korea

Latvia could become a gateway to the European market for South Korea, Latvia's Economics Minister Ilze Indriksone (National Alliance) said in an interview on Latvian Radio July 19.

The Minister of Economics, together with the Latvian entrepreneurs' delegation, was on a visit to South Korea last week to promote economic cooperation and expand export opportunities for entrepreneurs in the Asian region.

According to Indriksone, the aim of the visit was to expand and diversify the export market, attract investment and raise awareness, as well as build up the image of Latvia.

“It is not easy to recognize Latvia among the three Baltic States in the big and distant countries. It is the countries of the eastern region and also the Gulf states where, without officials' involvement and direct arrival, it is very difficult to open doors for entrepreneurs,” Indriksone said.

South Korea has been chosen for cooperation because it is a technology-rich and developed country. “It is very open to cooperation also towards Europe,” the Minister said.

Indriksone said that she sees a good opportunity for Latvia to become a “door to the European market” for South Korea.

“We also see an opportunity to cooperate on technology transfer in our strategic industries, biotechnologies, bio-medicine, which is very strongly developed in South Korea,” Indriksone said.

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