OPR- Monday, 19 June, 2006

 The President of Malta, H.E. Dr. Eddie Fenech Adami, this  morning, after an official welcome ceremony at Riga Castle, met The President of Latvia, H.E. Dr. Vaira-Vike Freiberga at the start of the two day State visit to The Republic of Latvia.  During the meeting both Presidents discussed matters of common interests between the two countries.

President Freiberga spoke of her state visit to Malta in February of 2004, that occurred at a time when both countries were on the verge of becoming members of the European Union, after having successfully undertaken several reforms and changes in view of their future membership. On the subject of irregular immigration, the President of Latvia, spoke of the importance of identifying the root causes of this phenomenon and said that the international community is duty-bound to come to the aid of those people who are suffering as a result of war, political oppression or economic hardship in their countries.  President Freiberga described today’s meeting as an opportunity to strengthen ties of friendship and cooperation and to increase economic exchanges between Malta and Latvia. 

On his part, President Fenech Adami said that it is an honour and a pleasure for him to be visiting Latvia on a return state visit.  The President said that in spite of the geographical distance separating the two countries, several similarities and common interests could be identified. The President said that there is considerable Maltese interest in investing in Latvia and identified areas in which both countries are able to cooperate effectively, such as the maritime sector. The President also mentioned Malta’s successful contribution to the container and shipping centre and expressed his confidence for both countries to find ways of further co-operation.

Late Sunday evening, on his arrival at Riga, President Fenech Adami and Mrs. Fenech Adami were welcomed by a Guard of Honour and Minister of Foreign Affairs of the Republic of Latvia, Mr. Artis Pabriks,  as is customary in Latvia.

After this morning’s bilateral talks, both Presidents attended a wreath laying ceremony at the Freedom Monument in the Centre of Riga.

President Fenech Adami met Mr. Aigars Kalvītis, Prime Minister of Latvia, who later hosted him and Mrs. Fenech Adami to luncheon. The President later met the Speaker of Saeima (Parliament), Ms Ingrīda Ūdre and visited the Occupation Museum, the centre depicting the long history of occupations of Latvia by Foreign Powers.

On a separate programme Mrs. Fenech Adami, accompanied by Prof Imants Freibergs, spouse of the President of Latvia, visited Riga History and Maritime Museum. Mrs. Fenech Adami also visited ‘Studija Naturals’ a linen factory and Berga Bazārs two separate concerns, one producing chocolates and the other producing soaps.

The delegation accompanying the President, which include representatives of Electrical Goods Importers Association, Air Malta, Malta Tourism Authority, Alternative Beauty Ltd, Maltas Nami Company, Philip Toledo, FG Group of Companies, Triton Group, Apco Ltd and Hili Group, this afternoon attended round table discussions where President Fenech Adami,  President Freiberga and Foreign Minister Michael Frendo, addressed the Maltese and Latvian bsinessmen and participated in the discussions.

The round table discussions were opened by the Minister of Foreign Affairs. Dr Michael Frendo said that the enhancement of business relations between countries forms an integral part of Malta’s Foreign Policy. In fact, the promotion of trade, investment and business are objectives found interspersed throughout the Strategic Objectives of Malta’s Foreign Policy which were published recently. 

Dr. Frendo pointed out that the business forum should not only be seen as a means to explore business opportunities between Malta and Latvia, but also as an opportunity to look further afield at business opportunities within the regions that Malta and Latvia respectively operate in. In this respect, Dr. Frendo said that due to Malta’s infrastructure, the double-taxation agreement it has signed with countries in the region, as well as its particularly developed financial services sector, Malta can be seen both as an ideal investment opportunity and as a suitable platform for doing business in the south of the Mediterranean.

In his closing remarks Minister Frendo said that in an era of communications, geographical distance should not deter trade, investment and joint ventures in the economies of Latvia and Malta and in their respective regions. Furthermore, as EU member states the two countries share legal systems, methods of governance, stability, transparency and open economies in a single market.  As fellow member states of the EU, the challenge which now lies ahead is to translate the political partnership between the two countries into a mutually beneficial dynamic, intense, and economic partnership.

An agreement between the Malta Federation of Industries and Latvian Employers’ Confederation was signed.  

The round table discussions were an opportunity for Maltese business representatives to seek possible prospects to penetrate Latvian market.  The Ministry of Foreign Affairs in coordination with the Latvian Industrial Development Agency, organised one-to-one meetings between Maltese businessmen and their Latvian counterparts mainly on the business opportunities and the services industry offered in Malta.

The State Dinner hosted by President and Prof. Imants Freibergs in honour of the President of Malta and Mrs. Fenech Adami will bring to an end the first day of the State Visit to Latvia.