Latvia a liberal economy and its re-orientation toward Western Europe, Latvia is one of the fastest growing economies in the European Union. In 2014, Riga was the European Capital of Culture, the euro was introduced as the currency of the country and a Latvian was named vice-president of the European Commission. In 2015 Latvia held the presidency of Council of the European Union. Big European events have been celebrated in Riga such as the Eurovision Song Contest 2003 and the European Film Awards 2014. On 1 July 2016, Latvia became a member of the OECD. Latvia lies in Northern Europe, on
Foreign relations of Latvia Foreign relations of Latvia The foreign relations of Latvia are the primary responsibility of the Ministry of Foreign Affairs. Today's Republic of Latvia regards itself as a continuation of the 1918–1940 republic. After the declaration on the restoration of its full independence on August 21, 1991, Latvia became a member of the United Nations on September 17, 1991, and is a signatory to a number of UN organizations and other international agreements. Latvia welcomes further cooperation and integration with NATO, European Union, OECD and other Western organizations. It also seeks more active participation in UN peacekeeping efforts worldwide. Council of