Ukraine, Latvia sign agreement on technical, financial cooperation

The Cabinet of Ministers and the Government of the Republic of Latvia signed an agreement on technical and financial cooperation to further cooperate on the use of international technical assistance.

This was reported by the Ministry of Strategic Industries of Ukraine, Ukrinform saw.

"An agreement has been signed between the Cabinet of Ministers of Ukraine and the Government of the Republic of Latvia on technical and financial cooperation. The document will create an organizational and legal framework for Ukrainian-Latvian cooperation on the use of international technical assistance," the statement said.

The document will facilitate the implementation of Latvia's assistance projects to Ukraine to supply equipment and materials for reconstruction, transfer modern technologies to Ukraine, and implement priority reforms in the field of European integration.

The agreement will, among other things, strengthen the involvement of the Republic of Latvia in the process of rebuilding Ukraine. For this purpose, the draft state budget of Latvia for 2024 provides for €5 million. In particular, €2 million will be used through the Ministry of Economy of Latvia to purchase equipment and materials for reconstruction projects in Chernihiv region; €3 million will be implemented through the Ministry of Foreign Affairs of Latvia as part of social infrastructure reconstruction projects in Chernihiv region.

In addition, a Memorandum of Understanding was signed in Riga between the Ministry of Strategic Industry and the Federation of Security and Defense Industry of the Republic of Latvia on cooperation in the defense and security sector. The Memorandum is aimed at supporting cooperation in the defense and security sectors.

It will support the implementation of joint projects in the field of defense technology (DefenceTech), including projects for the development and production of drones, electronic warfare, land and sea demining, and other defense products. Cooperation will also cover cyber defense, communications, and integrated solutions.

As reported, the Ministry of Strategic Industries of Ukraine and the Estonian Defense and Aerospace Industry Association signed a memorandum of understanding in Tallinn.