Whether it is a confederation, registered union, federal union or supranational body, here is the list of unions of which the country is a member. Latvia is a member of several trade unions. They are the European Union, the International Monetary Fund, the North Atlantic Treaty Organization, the Schengen Area, the United Nations, the World Bank and the World Trade Organization.
European Union Latvia is a member of the European Union. On May 1, 2004, it joined the EU as a full member. The EU is a unique economic and political partnership between 28 European countries that together form an economic-political union and cover much of the European continent. It covers an area of 4,324,782 km² with an estimated population of over 508 million. People can travel freely across most of the continent. As a single market, the EU is a major world trading power. And it has become much easier to live, work and travel in other European countries.
IMF Latvia is a member of the International Monetary Fund. On May 19, 1992, she joined the IMF as a member. Headquartered in Washington, D.C., the IMF is a 189-country organization dedicated to promoting global monetary cooperation, safeguarding financial stability, and facilitating international trade. The IMF now plays a central role in dealing with balance of payments difficulties and international financial crises. The union is governed and accountable to all 189 member countries. In 2010, the Fund had SDR 476.8 billion (about US$755.7 billion) at its disposal.
Organization of the North Atlantic Treaty Latvia is a member of the North Atlantic Treaty Organization. Latvia has been a member of NATO since March 29, 2004 and has therefore been a member of NATO for 19 years. The North Atlantic Treaty Organization (French: Organization du Traité de l'Atlantique Nord; OTAN) is an intergovernmental military alliance based on the North Atlantic Treaty. NATO Headquarters is located in Haren, Brussels, Belgium. NATO promotes democratic values and promotes cooperation on defense and security issues. The organization represents a system of collective defense in which its member states agree to defend each other in response to an attack by an outside party. NATO is committed to the peaceful settlement of disputes.
Schengen area Latvia is a member of the Schengen area. On December 21, 2007 it was admitted to the Schengen area. The Schengen Agreement is a treaty that led to the creation of the borderless Schengen area in Europe. It entitles every EU citizen to travel, work and live in any EU country without any special formalities. It was signed on June 14, 1985 by five of the ten member states of what was then the European Economic Community near the city of Schengen, Luxembourg. Schengen cooperation improves the free movement of people by allowing more than 400 million EU citizens to cross internal borders without being subjected to border controls.
United Nations Latvia is a member of the United Nations. On September 17, 1991, it acceded to the United Nations as a full member state on its founding date. The United Nations, founded in 1945, is an intergovernmental organization promoting international cooperation. The work of the United Nations is guided by the principles contained in its founding charter. It currently consists of 193 member states. The United Nations headquarters are in Manhattan, New York City, with other main offices in Geneva, Nairobi and Vienna. Its objectives include maintaining world peace and security, promoting human rights, promoting social and economic development, protecting the environment and providing assistance.