RIGA, June 12 (RIA Novosti) - Latvia is interested in the constructive development of cooperation with Russia, but does not plan to turn to Moscow for financial assistance, the Latvian economy minister said on Friday.
"The relations between our countries are developing constructively. We [Latvia] are interested that the relations between Latvia and Russia will be further developing in this constructive manner," Artis Kampars said in an interview with RIA Novosti.
But the minister said that Latvia, which recently suffered a sharp economic decline, is not planning to turn to Russia asking for financial assistance.
"I do not believe that Latvia needs any direct aid from Russia. But I believe that cooperation between our countries could be beneficial both for us and for them," the minister added.
Latvia has been one of the hardest hit of all EU states by the global financial crisis. The former Soviet republic's government resigned in February after a wave of street protests against a planned increase in VAT and other unpopular measures to help the budget meet EU commitments.
International financial organizations are due to grant Latvia 7.5 billion euros in a rescue package before 2011.