By Michael Ha
Staff Reporter
Prime Minister Han Seung-soo met Latvian Prime Minister Ivars Godmanis in Seoul Monday and discussed ways of boosting bilateral commerce and economic cooperation.
The two leaders also shared their views on the European Union and foreign diplomacy in the Baltic region, according to the Office of the Prime Minister.
They discussed global financial challenges and the worldwide economic slowdown. Other discussion topics included efforts to reconstruct war-torn Afghanistan, as well as global warming and government-led green initiatives.
The Ministry of Foreign Affairs and Trade announced that ``Prime Minister Godmanis' visit to Korea represents an official visit from the highest level of the Latvian government since establishing diplomatic ties in 1991. We hope his time in Korea will help further boost economic cooperation and exchange between the two nations."
The Latvian official is also expected to meet with President Lee Myung-bak at Cheong Wa Dae, before wrapping up his trip on Wednesday.
On Monday, the Latvian Prime Minister also took time to visit the Samsung Electronics plant located in Suwon, Gyeonggi Province. The trip was at the request of the Latvian prime minister, according to reports.
Samsung products are highly popular among Latvian consumers. They reportedly have the biggest market share for LCD and digital television sets, as well as several other high-tech electronic products in the Baltic nation. Samsung was also an official sponsor of the Latvian national team in the last summer Olympics in Beijing.
According to Latvia's Ministry of Foreign Affairs, the trade volume between the two nations is still relatively small, at around 50 million euros annually. The ministry says Korean exports to Latvia continue to grow and that they have quintupled since 2002.
Wood and wooden products dominate Latvia's exports to Korea, while exports from Korea are mainly machinery, mechanical appliances and electrical equipment. Latvia also imports vehicles, plastic and rubber articles.
Latvia and Korea hold common positions on many foreign policy issues, including peacekeeping, combating international terrorism and environmental protection, according to Latvia's Ministry of Foreign Affairs.