The decision of EBRD to select Riga as a venue to hold its millennium
is undoubtedly a challenge. If only because the Board of Governors' Meeting in Riga will
be the largest international financial event to be held in Riga in recent years.
THE CHOICE IS NOT ACCIDENTAL
It only testifies to the international appreciation of Latvia. It shows that within a
short period of time we have restructured the soviet centralised economy in compliance
with the market principles recognised world wide, that we have been acknowledged as a
democratic society, with claims to integrate into a unified Europe. It proves that all
these transformations have been tangible enough to make Latvia a recognisable country all
over the world.
Since the restoration of independence in 1991, Latvia
has undergone significant transformations declaring itself to become a modern, democratic,
secure and economically strong country in the future.
Basing its policy on the principles of openness and
equality, Latvia has been one of the most successful countries of Central and Eastern
Europe to attract foreign direct investment. Last year Latvia was the first to become a
member of the World Trade Organisation. International rating agencies have implicitly
ranked Latvia among the investment grade countries.
Therefore the selection of Latvia for the venue of 2000
Annual Meeting is more than reasonable. It is symbolic as well, if we recall that Riga,
once an ancient Hanseatic town, was an important trade and business centre.
REGIONAL FINANCIAL CENTRE
Latvia will become the financial centre of the region for a few days. It is planned that
more than three thousand guests financial authorities, entrepreneurs, and top
officials from the leading European banks will arrive in Riga between 20 23 May, 2000.
Various financial forums, conferences and exhibitions will be held simultaneously with the
EBRD Board of Governors' Meeting. Hopefully, Riga will gain the prestige of an organiser
of large-scale international forums in the future.
At the same time the 2000 Annual Meeting in Riga would be a splendid
opportunity for prominent financial authorities to discover the potential and prospects of
Latvia, with its dynamic development and openness to new ideas .
