Joe Sherlock (Cork East, Labour)
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Question 258: To ask the Minister for Enterprise, Trade and Employment if, given the enlargement of the European Union and the accession of the Republic of Latvia, a formal bilateral agreement exists between the Republic of Ireland and the Republic of Latvia for the promotion and protection of investments with a view to stimulating individual business initiatives and increasing prosperity between the two countries. [36548/05]

Michael Ahern (Cork East, Fianna Fail)
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Ireland has, in recent times, maintained a policy of not concluding bilateral investment treaties with other countries, but instead favours a multilateral approach to these issues through a suitable forum such as the European Union or the World Trade Organisation, as appropriate. Within the EU, of which Latvia is now a member state, the issue of investment flows between member states is governed by the EU Treaty and legislation provisions generally, which have equal application for all 25 members.

Enterprise Ireland keeps the matter of business opportunities between Ireland and Latvia under review, especially in the context of its assessment of such opportunities arising in the Baltic states generally.