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:
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. In 2015, the airport served 5.2 million passengers with over 80 direct flights in the summer season and almost 70 destinations in winter. The national airline of Latvia, airBaltic, received an award for the most punctual airline in the world by OAG in 2014 – 94.9% of flights stick to schedule. airBaltic operated around 43 000 flights from its base in Riga in 2015.
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.