Agreement between the Government of the Russian Federation and Government of the Republic of Latvia on economic cooperation

of October 13, 2006

The government of the Russian Federation and the Government of the Republic of Latvia which further are referred to as with the Parties

wishing to promote development and strengthening of the economic relations between the Russian Federation and the Republic of Latvia on the basis of equality and mutual advantage,

in view of membership of the Republic of Latvia in the European Union and following from this right and the obligation of the Republic of Latvia,

agreed as follows:

Article 1

1. Each of the Parties promotes development of mutually beneficial economic cooperation with other Party in all fields and sectors of economy according to the legislation of the state and on the principles of equality and mutual advantage.

2. The cooperation performed within this agreement is directed on:

a) use of economic capacity of the state of each of the Parties for development and strengthening of the bilateral economic relations;

b) intensification of the bilateral economic relations, in particular in the field of trade, investments, innovations, and implementation of economic projects;

c) development of infrastructure in the field of transport and transportation systems of loads, including energy carriers;

d) development of interregional cooperation.

Article 2

The cooperation specified in Article 1 of this agreement is performed, in particular, in the way:

a) interactions in case of projects implementation in different sectors of economy, including in power, and also in the field of transport and border infrastructure, being subject of mutual interest;

b) designings, constructions and upgrades of objects by business entities of the state of one Party in the territory of the state of other Party or jointly business entities of both states of the Parties in the territories of data of the states or in the territories of the third states;

c) developments of cooperation of the small and medium companies;

d) implementations of funding mechanisms, insurance and provisions of guarantees concerning economic projects, including investment;

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