The state Duma ratified the agreement on cross-border cooperation with Latvia

© RIA Novosti / Natalia to Seliverstova in fotomancer on the building of the State Duma on Okhotny Ryad street in Moscow. Archival photoThe state Duma ratified the agreement on cross-border cooperation with Latvia© RIA Novosti / Natalia to Seliverstova the image Bank

The state Duma ratified the agreement on the financing and implementation of the CBC programme «Russia — Latvia» for the period 2014-2020.

The agreement was signed in Moscow on 29 December 2016.

The programme is aimed at tackling common challenges of the border areas through the implementation of joint projects of St. Petersburg, Leningrad and Pskov regions and regions of Latvia, Latgale and Vidzeme, said in an explanatory note to the document.

The agreement determines the financial contributions of the parties, order the transfer of funds and conditions for suspension of payments by the parties. Also defined bases of tax and customs regulation, according to which is applied the most-favored-nation (MFN) in accordance with the legislation of each country.

In addition, the document establishes the procedure of information disclosure and transmission of personal data of the participating individuals in the database control program and upon reasonable request to the control bodies of the EU.

Preliminary evaluation of project proposals of the city of St. Petersburg, Leningrad and Pskov regions allows to conclude that the financial participation of the Russian Federation in the program will contribute to achieving the objectives of the strategy for socio-economic development of the North-West Federal district until 2020, stated in the feasibility study of the bill.

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