- promotion and agreement of standards, certification and testing,
- promotion of an appropriate regulatory framework,
- action to promote the growth of information services and infrastructure.
Article 87. Banking, Insurance and other Financial Services
1. The Parties shall cooperate with the aim of establishing and developing a suitable framework for the encouragement of a banking, insurance and financial services sector in Latvia.
2. The cooperation shall focus on:
- the improvement of efficient accounting and audit systems in Latvia based on international rules and European Community standards,
- the strengthening and restructuring of the banking and financial systems,
- the improvement and harmonization of supervision and regulation systems of banking and financial services,
- the preparation of glossaries of terminology,
- the exchange of information in particular in respect of laws in force or being drafted,
- the preparation and translation of Community and Latvian legislation.
3. To this end, the cooperation shall include the provision of technical assistance and training.
Article 88. Audit and Financial Control Cooperation
1. The Parties shall cooperate with the aim of developing efficient financial control and audit systems in the Latvian administration following standard Community methods and proceedings.
2. Cooperation shall focus on:
- the exchange of relevant information on audit systems,
- the uniformization of audit documentation,
- training and advisory operations.
3. To this end, technical assistance shall be provided by the Community as appropriate.
Article 89. Monetary Policy
At the request of the Latvian authorities, the Community shall provide technical assistance designed to support Latvia's efforts towards the gradual alignment of its policies on those of the European Monetary System. At the request of Latvia, it will organize informal exchange of information concerning the principles and the functioning of the European Monetary System.
Article 90. Money Laundering
1. The Parties agree on the necessity of making strenuous efforts and cooperating in order to prevent the use of their financial systems for the laundering of proceeds from criminal activities in general and drug offences in particular.
2. Cooperation in this area shall include administrative and technical assistance with the purpose of establishing suitable standards to combat money laundering, equivalent to those adopted by the Community and other international bodies in this field, in particular the Financial Action Task Force (FATF).
Article 91. Regional Development
1. The Parties shall strengthen cooperation between them on regional development and land-use planning.
2. To this end, any of the following measures may be taken:
- exchange of information by national, regional or local authorities on regional and land-use planning policy, and, where appropriate, the provision of assistance to Latvia for the formulation of such policy,
- joint action by regional and local authorities in the field of economic development,
- study of a joint approach towards the development of inter-regional cooperation with Baltic Sea regions in the Community,
- exchange of visits to explore cooperation and assistance opportunities,
- exchange of civil servants or experts,
- provision of technical assistance with special emphasis on the development of disadvantaged regions,
- establishment of programmes for the exchange of information and experience, by methods including seminars.
Article 92. Social Cooperation
1. With regard to health and safety at work and public health, the Parties shall develop cooperation between them with the aim of improving the level of protection of the health and safety of workers, taking as a reference the level of protection existing in the Community. Cooperation shall comprise the following in particular:
- the provision of technical assistance,
- the exchange of experts,
- cooperation between companies,
- information and training operations,
- cooperation on public health.
2. With regard to employment, cooperation between the Parties shall focus in particular on:
- organization of the labour market,
- modernization of job-finding and careers advice services,
- planning and implementation of regional restructuring programmes,
- encouragement of local employment development.
Cooperation in these fields shall be realized through actions such as the performance of studies, provision of the services of experts and information and training.
3. With regard to social security, cooperation between the Parties shall seek to adapt the Latvian social security system to the new economic and social situation, primarily by providing the services of experts and information and training.
Article 93. Tourism
The Parties shall increase and develop cooperation between them in the field of tourism, which will be aimed in particular at:
- facilitating the tourist trade,
- strengthening the flow of information through international networks, databases, etc.,
- transferring know-how through training, exchanges, seminars,
- enhancing regional cooperation projects,
- studying the opportunities for joint operations (cross-border projects, town twinning, etc.),
- introducing computerized booking and information systems (preferably common to all three Baltic States) and consumer protection standards for tourists.
Article 94. Information and Communication
1. With regard to information and communication, the Community and Latvia shall take appropriate steps to stimulate effective mutual exchange of information. Priority shall be given to programmes aimed at providing the general public with basic information about the European Union and specific circles in Latvia with more specialized information, including, where possible, access to Community databases.
2. The Parties shall coordinate and, where appropriate, harmonize their policies regarding the regulation of cross-border broadcasts, technical standards and the promotion of European audiovisual technology.
3. Cooperation may include providing for exchange programmes, scholarships, training facilities for journalists and experts in the sectors of the media as appropriate.
Article 95. Consumer Protection
1. The Parties shall cooperate with the aim of achieving full compatibility between the systems of consumer protection in Latvia and the Community. Effective consumer protection is needed to ensure that the market economy functions properly.
2. To this end, and in view of their common interests, the Parties shall encourage and ensure:
- a policy of active consumer protection, in accordance with Community law and any relevant UN guidelines on consumer protection,
- the approximation of legislation and the alignment of consumer protection in Latvia with that of the Community,
- effective legal protection for consumers in order to improve the quality of consumer goods and maintain appropriate safety standards.
3. Cooperation may include:
- the exchange of information on dangerous products,
- the training of consumer protection specialists for the government and NGOs,
- help with the development of independent organizations intended to increase consumer awareness, particularly by providing information,
- the establishment of information and advisory centres for the settlement of disputes and the provision of legal and other advice to consumers; provision will be made for cooperation between Latvia's centres and those in the Community,
- access to Community data banks,
- the development of exchanges between consumer representatives.
4. Technical assistance shall be provided by the Community as appropriate.
Article 96. Customs
1. The aim of cooperation in the customs field shall be to guarantee compliance with all the provisions scheduled for adoption in the area of trade and to achieve the approximation of Latvia's customs system to that of the Community, thereby helping to pave the way for liberalization measures planned under this Agreement.
2. Cooperation shall include the following in particular:
- the exchange of information including on the methods of investigation,
- the development of cross-border infrastructure,
- the introduction of the single administrative document and the interconnection between the transit systems of the Community and Latvia,
- the simplification of inspections and formalities in respect of the carriage of goods,
- the organization of seminars and placements,
- support in the introduction of modern customs information systems.
Technical assistance shall be provided where appropriate.
3. Without prejudice to further cooperation foreseen in this Agreement, and in particular Article 100 and Title VII, the mutual assistance between administrative authorities in customs matters of the Parties shall take place in accordance with the provisions of Protocol 5.
Article 97. Statistical Cooperation
1. Cooperation in this area shall have as its aim the development of an efficient statistical system to provide, in a rapid and timely fashion, the reliable statistics needed to support and monitor the process of economic reform and contribute to the development of private enterprise in Latvia.
2. The Parties shall cooperate in particular to:
- strengthen Latvia's statistical apparatus,
- bring about harmonization with international (and particularly Community) methods, standards and classifications,
- provide the data needed to support and monitor economic reform,
- provide private sector economic operators with the appropriate macroeconomic and microeconomic data,
- guarantee the confidentiality of data,
- exchange statistical information.
3. Technical assistance shall be provided by the Community as appropriate.
Article 98. Economics
1. The Community and Latvia shall facilitate the process of economic reforms and integration by cooperating to improve understanding of the fundamentals of their respective economies and the formulation and implementation of economic policy in market economies.
2. To these ends, the Community and Latvia shall:
- exchange information on macroeconomic performance and prospects and on strategies for development,
- analyse jointly economic issues of mutual interest, including the framing of economic policy and the instruments for implementing it,
- through the programme of Action for Cooperation in Economics (ACE) in particular, encourage extensive cooperation between economists and managers in the Community and Latvia in order to expedite the transfer of know-how for the drafting of economic policies, and provide for wide dissemination of the results of policy-relevant research.
Article 99. Public Administration
The Parties shall promote cooperation between their public administration authorities, including the setting up of exchange programmes, in order to improve mutual knowledge of the structure and functioning of their respective systems.
Article 100. Drugs
1. Within the scope of their respective powers and competences, the Parties shall cooperate in increasing the effectiveness and efficiency of policies and measures to counter the illicit production, supply and traffic of narcotic drugs and psychotropic substances, including the prevention of diversion of precursor chemicals, as well as in promoting drug demand prevention and reduction.
2. The Parties shall agree on the necessary methods of cooperation to attain these objectives, including the modalities of the implementation of common actions.
3. The cooperation in this area shall be based on mutual consultation and close cooperation between the Parties over the objectives and measures in the fields targeted in paragraph 1 and shall, inter alia, include where available technical assistance from the Community.
Cooperation aimed at preventing the illicit traffic of narcotic drugs and psychotropic substances will comprise technical and administrative assistance including:
- drafting and implementation of national legislation,
- creation or strengthening of institutions and information centres and of social health centres,
- increasing the efficiency of the institutions engaged in combating illicit drug trafficking,
- training of personnel and research,
- prevention of diversion of precursors and other essential chemicals used for the purpose of illicit manufacture of narcotic drugs or psychotropic substances, by establishing suitable standards equivalent to those adopted by the Community and relevant international bodies, in particular the Chemical Action Task Force (CATF).
The Parties may agree to include other areas.
Title VII. COOPERATION IN THE PREVENTION OF ILLEGAL ACTIVITIES
Article 101.
1. The Parties shall cooperate, within the scope of their powers and competences, with the aim of preventing the following illegal activities in particular:
- illegal immigration and the illegal presence of their nationals on the other's territory, while taking account of the principles and the practice of readmission,
- corruption,
- illegal transactions involving industrial waste and counterfeit products,
- illegal trafficking in drugs and psychotropic substances,
- illegal trade of radioactive and nuclear materials,
- illegal transfer of motor vehicles,
- organized crime.
2. Cooperation in the matters referred to in paragraph 1 shall be based on mutual consultations and close coordination between the Parties and should include technical and administrative assistance for:
- the drafting of national legislation,
- the establishment of information centres,
- enhancing the efficiency of the institutions charged to prevent illegal activities,
- staff training and the development of investigative facilities,
- the formulation of mutually acceptable measures to prevent illegal activities.
The Parties may agree to include other areas.
Title VIII. CULTURAL COOPERATION
Article 102.
1. The Parties undertake to promote, encourage and facilitate cultural cooperation. Where appropriate, the Community's cultural cooperation activities or those of one or more Member States may be extended to Latvia and further activities of interest to both sides developed.
This cooperation may cover in particular:
- literary translations,
- exchange of non-commercial works of art and artists,
- conservation and restoration of monuments and sites (architectural and cultural heritage),
- training,
- cultural events (e.g. song festivals),
- publicizing significant cultural events,
- cooperation between libraries.
2. The Parties may cooperate in the promotion of the audiovisual industry in Europe. In particular, the audiovisual sector in Latvia could apply to take part in activities set up by the Community in the framework of the Media programme, in accordance with the procedures laid down by the bodies responsible for the various activities and the Council Decision of 21 December 1990 setting up that programme.
The Parties shall coordinate and, where appropriate, harmonize their policies on the regulation of cross-border broadcasting, paying particular attention to matters relating to the acquisition of intellectual property rights for programmes broadcast by satellite or cable, technical standards in the audiovisual field and the promotion of European audiovisual technology.
Cooperation could include inter alia the exchange of programmes, bursaries and facilities for the training of journalists and other media professionals.
Title IX. FINANCIAL COOPERATION
Article 103.
In order to achieve the objectives of this Agreement and in accordance with Articles 104, 105, 106 and 107, without prejudice to Article 107, Latvia shall benefit from temporary financial assistance from the Community in the form of grants and loans, including loans from the European Investment Bank (EIB) according to the provisions of Article 18 of the Statute of the Bank to accelerate the economic transformation of Latvia.