On 30 November 2021 in Riga, the Minister of Foreign Affairs of Latvia, Edgars Rinkēvičs, met with the United States Secretary of State, Antony Blinken, for a discussion on bilateral relations between the two countries, the Three Seas Initiative, economic cooperation, the energy policy, the transatlantic link, as well as current topics concerning international relations and security policy.
The Minister highlighted the upcoming centennial of diplomatic relations between Latvia and the United States to be marked next year. Latvia will also host the seventh Three Seas Initiative Summit and Business Forum in the summer of 2022. The participation of the US at the highest level in the Summit and Business Forum is decisive for its successful course. The aim of the forum is to attract investments to the energy, transport and digital sector, the Minister said. Therefore, we expect an active interest from the United States businesses and investors. The Three Seas Initiative Fund is a good platform for mobilising resources in a community of like-minded countries, offering an alternative to cooperation platforms promoted by authoritarian regimes, Edgars Rinkēvičs noted, underlining that Latvia is interested in US investments.
In a discussion on business cooperation, Edgars Rinkēvičs highlighted in particular Latvia’s information technology and telecommunications industry, which is prepared to and can offer its practical contribution to diversification in supplies of various technologies, notably in the network equipment and future technologies, for instance 5G. The current COVID-19 crisis has brought to the fore the need for trustworthy technologies produced as close as possible to the Allied countries, said the Minister. Latvian businesses and scientists have formulated Latvia’s niche in this sector: development of semi-conductor microcircuits and 5G modules and their manufacturing in Latvia. Not only are we a NATO member state, we also have a good knowledge base, a favourable environment for investment, including an investment-friendly ecosystem, skilled workforce as well as flexible support from the central government and local authorities, Edgars Rinkēvičs underlined.
The Latvian Foreign Minister drew attention to what has been achieved in Latvia’s financial sector, especially in relation to effectively combating money laundering and terrorist financing in Europe. Significant changes have taken place in Latvia’s financial sector in recent years, for instance, through affecting changes to business profiles and thereby forgoing unmanageable risks in providing services to foreign customers, Edgars Rinkēvičs recalled.
Latvia has always supported a strong transatlantic link, the Latvian Foreign Minister said. Transatlantic cooperation is of crucial importance in the current geopolitical situation. The Minister voiced an opinion that democratic countries should respond in a stronger manner to the actions of authoritarian regimes in the digital realm. Like-minded countries should lead the way with a coordinated digital governance agenda based on democracy and human rights. At the same time, pressure should be exerted on technology companies who have given in too easily to censorship demands from authoritarian regimes, Edgars Rinkēvičs noted.
The meeting also addressed security policy matters. Edgars Rinkēvičs said he was certain that US action of providing information on Russia’s military build-up at the Ukrainian border and sending a clear message to Russia is of major importance. The Minister noted that Russia, at least in the medium term, is creating the highest political and security threats, especially in the neighbourhood region. Conversely, in order to effectively respond to challenges triggered by China, a close coordination with like-minded partners is vital, with the US in particular.