It was with great pleasure that I agreed to take part in the closing session of this Portuguese-Latvian Economic Seminar. My presence underscores the importance that I give to the development of trade relations between Portugal and Latvia and to the economic partnership between both our countries. I likewise interpret the presence of President Vaira-Vike-Freiberga at the seminar as a sign of identical commitment and as an incentive to the strengthening of our relations.

Promoting Portuguese-Latvian economic relations is, moreover, one of the main objectives of this visit to the Latvian Republic. It is for this reason that I am accompanied by the secretary of State for Trade, Industry and Services, by the president of ICEP and by a large delegation of the business community, which includes representatives of banking, civil construction, shipyards, timber, wine, textiles, footwear, auto components and consultancy, among others, some of which, though few, are already doing business in this country as direct investors.

I would therefore begin by thanking you all – the Latvian business community in particular – for attending this seminar, which I hope will have provided greater mutual knowledge and an identification of new opportunities for co-operation.

The reform currently under way in Latvia and the stability that will be ensured by membership of the European Union are sure to bring about opportunities that the entrepreneurs of the two countries, better than anyone else, will be able to assess and know how to take advantage of.

This seminar has been but a first step and, given the characteristics of our economies, it has certainly opened up the way to greater penetration of the Latvian markets by Portuguese entrepreneurs, just as it must have shown entrepreneurs from here the potential open to them in enjoying Portuguese products and services, including tourism.
In addition to the products we already export to Latvia, there is a vast range of goods and services too, also represented here by Portuguese businessmen, in which Portugal offers a very good price-to-quality ratio. Besides machinery and electrical, thermal and measuring equipment, other items such as building materials, intermediate goods and textiles, or even tourism, are sectors in which existing relations could well pave the way to significant progress.

On the other hand, given the distance separating our two countries, I also hope that opportunities have arisen for joint investments that, by sharing risks, will allow better use to be made of the development potential of several products and services.

Latvia’s membership of the European Union, which will naturally bring about greater stability and predictability of the terms of economic trade, will open up new opportunities or make existing ones more attractive as a result of the exchange of experiences that has taken place here.

Economic relations, today, are the great driving-wheel of the development of relations between countries. Entrepreneurs have an matchless part to play in this, and I therefore hope that this seminar will have made a contribution to identifying areas to increase trade or investment that will help to create an increasingly articulated common European space.

I would therefore like to thank once again all those who have attended this seminar and hope that, from now on, ways will be found to develop bilateral trade and co-operation more intensively, helping to strengthen cohesion within the European Union of which both our countries form part.


			Speech by H. E. the President of the Portuguese Republic at the closing Session of the Portuguese-Latvian Economic Seminar 14 de Maio de 2003 It was with great pleasure that I agreed to take part in the closing session of this Portuguese-Latvian Economic Seminar. My presence underscores the importance that I give to the development of trade relations between Portugal and Latvia and to the economic partnership between both our countries. I likewise interpret the presence of President Vaira-Vike-Freiberga at the seminar as a sign of identical commitment and as an incentive to the strengthening of our relations. Promoting Portuguese-Latvian economic relations is, moreover, one of the main objectives of this visit to the Latvian Republic. It is for this reason that I am accompanied by the secretary of State for Trade, Industry and Services, by the president of ICEP and by a large delegation of the business community, which includes representatives of banking, civil construction, shipyards, timber, wine, textiles, footwear, auto components and consultancy, among others, some of which, though few, are already doing business in this country as direct investors. I would therefore begin by thanking you all – the Latvian business community in particular – for attending this seminar, which I hope will have provided greater mutual knowledge and an identification of new opportunities for co-operation. The reform currently under way in Latvia and the stability that will be ensured by membership of the European Union are sure to bring about opportunities that the entrepreneurs of the two countries, better than anyone else, will be able to assess and know how to take advantage of. This seminar has been but a first step and, given the characteristics of our economies, it has certainly opened up the way to greater penetration of the Latvian markets by Portuguese entrepreneurs, just as it must have shown entrepreneurs from here the potential open to them in enjoying Portuguese products and services, including tourism. In addition to the products we already export to Latvia, there is a vast range of goods and services too, also represented here by Portuguese businessmen, in which Portugal offers a very good price-to-quality ratio. Besides machinery and electrical, thermal and measuring equipment, other items such as building materials, intermediate goods and textiles, or even tourism, are sectors in which existing relations could well pave the way to significant progress. On the other hand, given the distance separating our two countries, I also hope that opportunities have arisen for joint investments that, by sharing risks, will allow better use to be made of the development potential of several products and services. Latvia’s membership of the European Union, which will naturally bring about greater stability and predictability of the terms of economic trade, will open up new opportunities or make existing ones more attractive as a result of the exchange of experiences that has taken place here. Economic relations, today, are the great driving-wheel of the development of relations between countries. Entrepreneurs have an matchless part to play in this, and I therefore hope that this seminar will have made a contribution to identifying areas to increase trade or investment that will help to create an increasingly articulated common European space. I would therefore like to thank once again all those who have attended this seminar and hope that, from now on, ways will be found to develop bilateral trade and co-operation more intensively, helping to strengthen cohesion within the European Union of which both our countries form part.