During lunch I will address the AmCham at its monthly meeting. This is my first visit to Latvia and I am impressed by what I have seen here. Latvia has done much over the past 10 years to secure its democracy and to develop its free-market economy. Latvia is demonstrating a deep commitment to democratic principles. I also see here an enthusiasm to build a vibrant market economy in which all Latvians can prosper and create a bright economic future.
U.S.-Latvian relations are strong.
Our relations are framed by the U.S. - Baltic Charter, which was signed by President Clinton and the three Baltic Presidents in January 1998. Through the NEI we seek to promote stability and cooperation in the vital Baltic Sea region and to bolster U.S. trade and investment in the region. At Commerce, we have launched several initiatives designed to strengthen U.S.-Latvian trade and investment. I am very pleased to announce today that the Department of Commerces Foreign Commercial Service will be opening an office at the U.S. Embassy here in Riga. Karen Pilmanis, who is currently a commercial officer at the U.S. Embassy in Stockholm, will be our new Senior Commercial Officer in Riga.