On November 1, in Washington, DC Prime Minister Aigars Kalvitis met with Robert M. Kimmit, Deputy Secretary of the U.S. Treasury. The Prime Minister informed about the development of Latvia's economy and its finance sector, and pointed out the increased participation of U.S. capital both in the finance sector and in investment projects. The Prime Minister also informed about measures taken in the Latvian finance sector to fight laundering of illegal proceeds; this is an area of focus for Latvia's government, the government is developing regular dialogue with banks, supervisory bodies, law enforcement institutions and international partners. This work has resulted in a high level of transparency of financial transactions. Prime Minister Kalvitis emphasised: “Systematic and purposeful work of the Government with regard to the development of the finance and banking sector shows our interest in strengthening Latvia’s position as a financial centre and out interest in close cooperation with the U.S. Government and partners in order to ensure further development.” The Latvian Government and the Financial and Capital Market Commission is developing a dialogue not only with the Department of Treasury, but also with individual financial sector regulators. An important step toward this goal is the signing of the cooperation memorandum which was signed Friday, November 2 between the Latvia's Financial and Capital Market Commission and the New York regulator.