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Cooperation with Russia in railway sector has been very successful

Thursday, 30 July, 2009

On 28 July in Riga took place the joint Latvian–Russian Co-operation Council meeting. In the meeting there were discussed issues regarding the agreement on avoidance of double taxation and tax evasion and the agreement on protection of investments, as well as the cooperation in transport, logistics, telecommunications and health sectors. On 29 July in the Ministry of Foreign Affairs took place the third meeting of the Latvian-Russian Intergovernmental Commission, which was chaired by Commission Co-Chairmen – the Minister for Economics of Latvia Artis Kampars and the Minister of Transport of the Russian Federation Igor Levitin.

“Cooperation with our Eastern neighbor – Russia until now has been very successful. In order to better promote this cooperation, it would be necessary to develop railway infrastructure also in the borderland of Russia side, because the existing capacity of infrastructure in this area is used at maximum now,” said Uģis Magonis, Chairman of the Board of Latvijas dzelzceļš (LDz) after the negotiations on 28 July in Riga with the Minister of Transport of Latvia Kaspars Gerhards, the Minister of Transport of the Russian Federation Igor Levitin and the chairmen of the biggest transport companies of Latvia.

LDz Chairman of the Board pointed that with the increase of cargo flow to and from Russia, it is necessary to raise cargo throughput and, therefore, the development of infrastructure in the borderland should be continued. “By increasing cargo volumes, it would be necessary again to increase throughput in Russia, because many cargos that are now carried from Russia to Latvia through Belarus, we could transport directly through the Latvia-Russia border. We hope the partners in Russia will support these proposals,” added U.Magonis.

Concern Latvijas dzelzceļš comprises the holding company SJSC Latvijas dzelzceļš and four subsidiaries – LDz Cargo Ltd., LDz InfrastruktūraLtd., LDz Ritošā sastāva serviss Ltd. and a security company LDz Apsardze. In 2008 the profit of Concern LDz was 13.4 million lats and the net turnover – 299 million lats.

 

Prepared by LDz Public Relations Division

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