Latvia investment pact

OECD Observer

Latvia has signed up to the OECD Declaration on International Investment and Multinational Enterprises. The invitation from OECD members recognised Latvia’s general openness to foreign direct investment and will reinforce the Latvian government’s efforts to pursue investment-friendly economic reforms.

The Declaration calls for treatment of foreign investors by host country governments no less favourable than that applied to domestic enterprises. It also promotes voluntary standards of responsible business conduct under the framework of the OECD Guidelines for Multinational Enterprises. Latvia is the 38th country to adhere to the Declaration, joining the 30 OECD countries plus Argentina, Brazil, Chile, Estonia, Israel, Lithuania and Slovenia.

A recent OECD examination of Latvia’s FDI policies encouraged the Latvian government to actively pursue its economic reforms and dismantling of market access barriers on a nondiscriminatory basis and to continue to find concrete solutions to administrative barriers faced by the foreign business community.

©OECD Observer No 242, March 2004

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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