Belarusian economy has attracted some $600 million of Latvian investments in the recent five years, including $58 million in 2009, said General Director of the Minsk Office of the Belarusian Chamber of Commerce and Industry Alexander Fedorchuk.

A delegation of Latvian businessmen is now in Minsk on a visit.

Latvia is among the top-ten investors in Belarusian economy, coming after Russia, Austria, and Great Britain. The economic cooperation between the two countries falls into two avenues: the first is major transport and logistics projects, and the second one is development of contacts between the companies.

In August 2010 Belarus’ Foreign Minister Sergei Martynov traveled to Latvia on a working visit to discuss possible extension of trade and economic interaction and the legal framework improvement. In order to enhance the cooperation between the companies of the two countries the sides agreed on the list of issues, which require prompt solution. The Latvian side has submitted the list to the Belarusian Government for consideration.

Apart from that, the sides have agreed that Riga will host a seminar dedicated to the Customs Union functioning upon the recommendation of the business cooperation council under Belarusian- Latvian commission for economic, scientific and technical cooperation. Minsk will also host a number of forums on standardization.