The First Latvia–China Trade and Investment Forum Held in Riga and Electronics Exhibition Officially Opened

On Wednesday, 10 October, the Latvia–China Trade and Investment Forum, organised by the Investment and Development Agency of Latvia (LIAA) and the China Council for the Promotion of International Trade (CCPIT), was held at the Park Inn by Radisson Riga Valdemara hotel. Its aim was to promote cooperation and strengthen economic ties between China and the countries of Eastern and Central Europe. The event held in Riga brought together more than 40 representatives of China’s leading machinery and electronics companies, whose products and services can be viewed this week at the International Exhibition Centre in Ķīpsala.

The well-attended conference was opened by Zhu Jiwei, Director of the Events and Exhibitions Department of the China Chamber of International Commerce, who served as the event’s moderator and expressed great satisfaction with the cooperation between Latvia and China to date and the strengthening of economic ties, which continue to make steady progress each year. He was followed on stage by Yu Jianlong, Secretary-General of the China Chamber of International Commerce (CCOIC), and Sun Yinglai, Chargé d’Affaires of the Embassy of the People’s Republic of China in Latvia, who in his speech emphasised the importance of creating more opportunities for the development of economic and trade relations between the two countries. The floor was then given to Andris Ozols, Director of the Investment and Development Agency of Latvia (LIAA), and Valters Jēkabsons, Director of the Investment Promotion Department, who, like the Chinese representatives, highly valued the diplomatic relations between the two countries and emphasised their important role in Latvia’s economic growth, placing particular emphasis on the development of foreign trade, investment attraction, education and cultural processes.

The second part of the conference featured presentations by Jin Yumin, Deputy Director of the Shanghai municipal nuclear power plant, Sun Meijunbo, Head of the Public Relations Department of Shanghai Electric (Group) Corporation, and Jin Xin, Head of the Marketing Department of Shanghai INESA (Group), who repeatedly affirmed their interest in cooperating with Latvian companies. Following the official speeches, a memorandum of understanding on strengthening future cooperation was ceremonially signed on stage. The forum programme then continued with B2B networking activities, enabling representatives of both countries to meet potential business partners in the fields of electrical engineering, energy, environmental protection, mechanical manufacturing, IT, communications and other sectors. Finally, at the end of the day, the participants continued getting to know the cultures of both countries over dinner. 

“Although China and Latvia are countries with very different populations and geographical locations, their economic relations are becoming increasingly close in today’s era of globalisation. China is currently Latvia’s second-largest trading partner outside Europe, and mutual export volumes have grown noticeably in recent years. Moreover, the number of Chinese companies interested in Latvia as a potential market continues to increase. We believe that this conference will serve as a platform for entrepreneurs from both countries to promote further cooperation, and that in the coming years we will be able to speak of new and even more significant achievements,” comments Yu Jianlong, Secretary-General of the China Chamber of International Commerce (CCOIC).

Alongside the “Latvia–China Trade and Investment Forum”, an exhibition of Chinese machinery and electronic equipment is also being held this week at the International Exhibition Centre in Ķīpsala as part of the “RIGA COMM 2018” conference. It features stands from 49 prestigious Chinese companies. Visitors have the opportunity to learn about various future technologies, smart-city solutions, current developments in the electricity sector, and other innovative products and services. On Thursday, 11 October, the exhibition’s official opening ceremony was held, attended by Yu Jianlong, Secretary-General of the China Chamber of International Commerce (CCOIC); Sun Yinglai, Chargé d’Affaires of the Embassy of the People’s Republic of China in the Republic of Latvia; Zaiga Liepiņa, Deputy State Secretary of the Ministry of Economics of the Republic of Latvia; Viesturs Tīle, Chairman of the Board of BT 1, an international exhibition organiser; and Andris Ozols, Director of the Investment and Development Agency of Latvia (LIAA). By ceremonially cutting the red ribbon, the special guests jointly opened the largest exhibition of Chinese companies held in Latvia to date.

The exhibition of Chinese machinery and electronic equipment can be viewed at the International Exhibition Centre in Ķīpsala until 18:00 on Friday, 12 October. More information about the exhibition and its participants is available on the BT 1 website: http://www.bt1.lv/rigacomm/things/Brochure_China_Pavilion_2018.pdf.