LATVIA Law and Practice Contributed by: Agita Sprūde, Artūrs Kazāks and Valts Nerets, Sorainen
Sorainen Kr. Valdemāra 21-11, LV-1010 Riga Latvia Tel: +371 67 365 000
Email: latvia@sorainen.com Web: www.sorainen.com
1. Overview 1.1 National Position
5. Latvia–Germany (signed 20 Apr 1993, in force 9 Jun 1996). 6. Latvia–Lithuania (signed 7 Feb 1996, in force 23 Jul 1996). 7. Latvia–Spain (signed 26 Oct 1995, in force 14 Mar 1997). 8. Latvia–Portugal (signed 27 Sep 1995, in force 17 Jul 1997). 9. Latvia–Greece (Hellenic Republic) (sig. 20 Jul 1995, in force Feb 1998). 10. Latvia–Slovakia (signed 9 Apr 1998, in force 30 Oct 1998). 11. Latvia–Belgo-Luxembourg Economic Union (BLEU) (signed 27 Mar 1996, in force 4 Apr 1999). 12. Latvia–Hungary (signed 10 Jun 1999, in force 25 Aug 2000). 13. Latvia–Romania (signed 27 Nov 2001, in force 22 Aug 2002). 14. Latvia–Bulgaria (signed 4 Dec 2003, in force 23 Jul 2004). 15. Latvia–Croatia (signed 4 Apr 2002, in force 25 May 2005). The above Latvia BITs are listed in Annex A of the 2020 Termination Agreement and were terminated pursuant to that agreement (the instrument that implemented Achmea ‘s practical effect across signatory EU mem- ber states). Latvia has terminated the following BITs via bilateral terminations/denunciations, where termination was done by mutual agreement or domestic denunciation: 1. Latvia–Norway (BIT signed 1992) – 27 March 2023, terminated via mutual termination/exchange of notes.
Latvia’s position concerning investor–State arbitra- tion is pragmatic and aligned with its EU membership. Latvia participates in international arbitration frame- works and has used treaty-based arbitration (notably under bilateral investment treaties (BITs) and the ICSID Convention). Since EU accession (1 May 2004), Latvia has had to consider EU law limits on intra‑EU BIT arbitration (notably the CJEU’s Achmea judgment), and many EU-related issues have reduced reliance on intra‑EU BIT claims. The Latvian government has not pursued a wholesale denunciation campaign of its remaining BITs in 2024–25. Still, it has managed its treaty relationships in line with EU law and has been active in updating domestic arbitration rules to reflect international standards. Following the Russian full- scale invasion of Ukraine in February 2022, the BIT with Belarus was denounced and consequently was terminated as of 18 October 2023. Latvia has terminated the following BITs because of the Achmea decision: 1. Latvia–France (agreement between the Republic of Latvia and the French Republic; signed 15 May 1992, in force 1 Oct 1994). 2. Latvia–Denmark (signed 30 Mar 1992, in force 18 Nov 1994). 3. Latvia–Netherlands (signed 14 Mar 1994, in force 1 Apr 1995). 4. Latvia–Estonia (signed 7 Feb 1996, in force 23 May 1996).
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