The information was translated using the ChatGPT service.
Latvia and Australia have extensive, previously untapped opportunities for economic cooperation, which have become particularly relevant given recent geopolitical events and the efforts of businesses in both countries to explore new markets and investment opportunities. This was acknowledged during a meeting between Minister of Economics Viktors Valainis and the newly accredited Australian Ambassador to Latvia, Francesca Saggalla.
Valainis emphasized to the Australian representative that Latvia, with its small, open economy featuring three major ports, a leading airport in the region, and serious investments in the development of modern technologies, serves as a gateway for business in the European Union. "We are excellent doors for business in Europe, and I am committed to doing everything I can to ensure that every Australian investor feels comfortable and secure here," said the Minister. He also pointed out that Latvia is currently particularly interested in offerings in the field of innovative products and services.
Saggalla, in turn, highlighted the opportunities offered by Australia, as the world's 14th largest economy, particularly in the context of the entire Indian and Pacific Ocean region, where Australia can share significant accumulated experience. Speaking about the modern technology sector, the Australian Ambassador specifically emphasized her country's interest in potential Latvian investments in cybersecurity, health, biotechnology, and renewable energy.