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
Ministry of Economics (Latvia) Tourism Development Agency, the Central Statistical Bureau of Latvia, Competition Council, Consumer Rights Protection Center, and Public Utilities Commission. Ministry of Economics (Latvia) The Ministry of Economics of the Republic of Latvia () is the leading state administrative institution responsible for economic policy in Latvia. The ministry also represents the economic interests of Latvia in the European Union. The current Minister of Economics is Arvils Ašeradens, appointed on February 11, 2016. The ministry develops and implements economic structural policy, manufacturing policy, energy policy, external economic policy, domestic market policy (for goods and services), commercial development policy, competitiveness and technological development