The agreement is a proof of the good bilateral relations, reaffirming the collaboration between the two countries when Latvia held the presidency of the European Union during the first half of 2015. At that time, Andorra started the negotiating process with the EU.
Gilbert Saboya has presented his counterpart a draft text from which the respective Ministries of Finance will start formal talks. According to Saboya, negotiations could start this year and finish in a short period of time. The agreement will be based on OECD standards, being similar to those signed up with the other European Union countries.
The meeting also set the occasion to follow up to the Andorran negotiations with the European Union. Saboya presented to the Minister of Latvia the Andorran position regarding the free movement of goods, services, capitals and people, as well as the country’s institutional framework in general.
Both countries also agreed to organize various projects in the field of tourism, to promote the Principality in Latvia. For example, Andorra will be participating in a tourism fair to be held in the Baltic country’s capital, Riga, in February 2018. Also, coinciding next year with the first anniversary of the independence of Latvia, Andorra will organize a meeting between the business sectors of the two countries.
Moreover, a specific cooperation is foreseen in the field of innovation and new technologies, noting that Latvia is working in similar clusters to those of Andorra, while preparing a new legislation in this regard.
The visit of Latvia’s Minister for Foreign Affairs, responds to Gilbert Saboya’s visit made in September 2015. Such event marked the beginning of various bilateral initiatives, including the elimination of Andorra from the Latvia’s tax havens list during 2016.
Text and photo: Govern d’Andorra