In order to develop the mutually beneficial cooperation and establish direct contacts between Ukrainian and Latvian business circles in Riga on March 30, 2021 a Memorandum of Understanding was signed between the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine (Council) and the Latvian Chamber of Commerce and Industry (LCCI).

On behalf of the Council the Memorandum was signed by the Ambassador of Ukraine to the Republic of Latvia Olexandr Mischenko, on behalf of the LCCI - the Chairman of the Council (President) Aigars Rostovskis. Today the LCCI is the largest business association which unites about 6,000 members. The main areas of its activity - business, export promotion, competitiveness of enterprises.

The provisions of the signed Memorandum provide, among other, assistance for the participation of Ukrainian companies in exhibitions, fairs and trainings in Latvia, promote cooperation between business circles, support bilateral visits, meetings and other cooperation between businessmen and business entities of the two countries.