Latvia instance of OECD country
The Republic of Latvia declared the end of the transitional period and restored full independence on 21 August 1991, in the aftermath of the failed Soviet coup attempt. Latvia resumed diplomatic relations with Western states, including Sweden. The Saeima, Latvia's parliament, was again elected in 1993. Russia ended its military presence by completing its troop withdrawal in 1994 and shutting down the Skrunda-1 radar station in 1998. The major goals of Latvia in the 1990s, to join NATO and the European Union, were achieved in 2004. The NATO Summit 2006 was held in Riga. Vaira Vīķe-Freiberga was President of Latvia from 1999 until 2007. She was the first female head of state in the former Soviet block state and was active in Latvia joining both NATO and the European Union in 2004.Approximately 72% of Latvian citizens are Latvian, while 20% are Russian; less than 1% of non-citizens are Latvian, while 71% are Russian. The government denationalized private property confiscated by the Soviets, returning it or compensating the owners for it, and privatized most state-owned industries, reintroducing the prewar currency. Albeit having experienced a difficult transition to a liberal economy and its re-orientation toward Western Europe, Latvia is one of the fastest growing economies in the European Union. In 2014, Riga was the European Capital of Culture, Latvia joined the eurozone and adopted the EU single currency euro as the currency of the country and Latvian Valdis Dombrovskis was named vice-president of the European Commission. In 2015 Latvia held the presidency of Council of the European Union. Big European events have been celebrated in Riga such as the Eurovision Song Contest 2003 and the European Film Awards 2014. On 1 July 2016, Latvia became a member of the OECD.Foreign relations
Latvia is a member of the United Nations, European Union, Council of Europe, NATO, OECD, OSCE, IMF, and WTO. It is also a member of the Council of the Baltic Sea States and Nordic Investment Bank. It was a member of the League of Nations (1921–1946). Latvia is part of the Schengen Area and joined the Eurozone on 1 January 2014.
Latvia has established diplomatic relations with 158 countries. It has 44 diplomatic and consular missions and maintains 34 embassies and 9 permanent representations abroad. There are 37 foreign embassies and 11 international organisations in Latvia's capital Riga. Latvia hosts one European Union institution, the Body of European Regulators for Electronic Communications (BEREC).Latvia's foreign policy priorities include co-operation in the Baltic Sea region, European integration, active involvement in international organisations, contribution to European and transatlantic security and defence structures, participation in international civilian and military peacekeeping operations, and development co-operation, particularly the strengthening of stability and democracy in the EU's Eastern Partnership countries.
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