Economic cooperation between Latvia and China has a promising potential, said visiting Latvian President Vaira Vike-Freiberga Wednesday in a speech at Tsinghua University in Beijing.  

The Latvian government is eager to strengthen economic ties and political contacts with China to establish a closer partnership which is mutually beneficial for both countries, Vike-Freiberga said.

Latvia views China as a major player on the international stage and this China tour has allowed her to witness the drastic changes in the last few years, she said, noting that the industriousness of the Chinese people and the dynamism impressed her.

Vike-Freiberga spoke highly of the cooperation and exchanges in various fields between the two sides. She said bilateral ties have been very friendly and cordial since the two countries established diplomatic relations in 1991.

Latvia is willing to strengthen exchanges and cooperation with China in such fields as trade, investment and transport, she added. Trade volume between Latvia and China totaled US$130 million last year, representing a tremendous growth rate of 78 percent compared to the year before.

Latvian entrepreneurs are interested in establishing partnerships with their Chinese counterparts in various promising spheres, including information technology and telecommunications, wood processing, electronic appliances and shipbuilding, she said.

Vike-Freiberga expressed her appreciation for China to provide long-term understanding and support to Latvia and emphasized that Latvia follows the one-China policy.

Latvia will become a member of the European Union (EU) on May 1.Vike-Freiberga said Latvia looks forward to providing its active input in strengthening the strategic partnership between EU and China.

(Xinhua News Agency April 15, 2004)