(Yonhap Interview) Latvia sees chance for closer ties with S. Korea in economic crisis

By Lee Chi-dong
Jan. 20 (Yonhap) -- The current economic slump in Latvia provides an opportunity
for strengthened ties with South Korea, the visiting prime minister of the Baltic
nation said Tuesday.
"Nowadays, as industries around the world are facing difficulties, we are seeking
partners both near and far," Prime Minister Ivars Godmanis said in an interview
with Yonhap News Agency.
Godmanis, who arrived in Seoul on Sunday for a four-day trip, is the
highest-level Latvian official to come to South Korea since the two nations
established diplomatic relations in 1991. The two sides exchanged foreign
ministerial visits in 1995 and 1996.
Latvia, once referred to as a Baltic tiger for its rapid economic growth
following its entry into the European Union in 2004, recently appealed to the
International Monetary Fund (IMF) for a bailout as its economy has been battered
by the global financial meltdown.
"In a crisis you have to be more active. If you remain calm you are dead. You
have to be very, very vital and active," he said,
Godmanis said his visit to Seoul is focused on promoting economic ties between
the two sides, especially in the fields of logistics and the timber trade.
Trade volume between the two nations, while growing, still remains relatively
low, increasing five-fold to US$116 million in 2008 from five years earlier.
"When I met (South Korean) Prime Minister Han Seung-soo (on Monday), I told him
that we support the free trade agreement between the EU and Korea," he said. "We
also had discussions here about our proposal for logistics and transportation of
Korean goods to Europe."
He said the leaders also discussed ways of overcoming the current financial
crisis, drawing on South Korea's experience when it received a similar bailout
from the IMF in the late 1990s.
Godmanis pointed out that Latvia can serve as an advanced base for South Korean
companies seeking business in the Baltic area. The two South Korean conglomerates
-- Samsung and LG -- have already opened branches there, while South Korea is
also a supplier of ships and tankers to the European nation.
"Latvia is trying to find a new market for its milk processing industry,
including goods like yogurt and cheese, particularly given our current economic
troubles," he said. "The world is global and I do believe that especially in a
crisis time you have to look farther afield as this will create new horizons
possibilities for new activities."
The prime minister also underlined the need for follow-up measures to his trip here.
"Politicians are only the bricks that form the bridge. They can't provide the
traffic on the bridge, which comes from the businessmen and common people," he
said. "For that reason, we will take the first step and we are now waiting for
the Korean people to take the next. When the crisis ends and times are better, we
will be better."
Godmanis said he delivered his president's invitation for South Korean President
Lee Myung-bak to visit Latvia. He is scheduled to fly to Tokyo on Wednesday.
lcd@yna.co.kr
(END)