Accessibility to Large Markets

Accessibility to Large Markets

Latvia has a unique geographical and cultural position, providing a strategic location for business operations targeting developed economies of the EU and emerging markets of eastern neighbours. Latvia is a natural gateway between the US, EU and Asia (especially Russia/CIS). Advantages enabling successful trade include:

Advanced transport infrastructure

Located on the coast of the Baltic Sea, Latvia has three major ice-free international ports—Riga, Liepaja and Ventspils—that are closely linked into the country’s land-based infrastructure, including an extensive rail, road and pipeline system.

Riga International Airport is the largest airport in the Baltics and in 2016 it served 5.4 million passengers breaking the annual passenger record (+4.7% y-o-y growth) and handled 19 760 tonnes of cargo. Riga International Airport serves almost half (44%) of all Baltic capital passengers. In comparison, in 2016 Tallinn (Estonia) served 18% of total passengers and Vilnius (Lithuania) served 31%. The airport currently serves more than 17 airlines, including Latvia’s national airline airBaltic, low-fare carriers Ryanair, Wizzair, Norwegian, and European leaders like Lufthansa, Aeroflot, Turkish Airlines, SAS and Finnair. The said companies and others ensure fast and reliable direct travel from Riga International Airport to more than 80 destinations.

In 2016, Riga International Airport completed construction of a North Pier for the terminal which will enable the airport to continue its current growth and increase passenger-handling capacity.

Free trade

Latvia’s external trade and customs policy is based on free trade principles. Latvia is an EU country, a member of Schengen and an active participant of the World Trade Organization, enjoying all the benefits of free and open trade in the world’s markets. Customs and border procedures have been standardized for effective planning and coordination with trade partners around the world. Furthermore, Latvia has also become a full-fledged OECD member.

Export experience and support

Domestic companies continue to develop their exports, creating an environment of knowledge and ability that enable firms to grow their businesses in Latvia and abroad. Latvia’s history has prepared its workforce with knowledge of business and cultural norms that enable partnership with Western European countries, and particularly with Russia and other CIS countries. LIAA provides a host of services for assisting locally-registered companies to find and cultivate new markets.