H.E. Mr. Edgars Rinkevics, Minister for Foreign Affairs of the Republic of Latvia:
Latvia and United Kingdom are like-minded partners who share common interests in today’s interconnected global economy. Latvia touts an advantageous, geographically strategic location providing an excellent platform for business and offering multiple gateways for transportation of goods and services between the EU and emerging markets to the East.
British companies understood and utilized the potential to do business on the shores of the Baltic Sea already during the interwar period, when all three Baltic countries were valued as significant sources of high quality agricultural products.
Historically, Latvia has been one of the main transit points for both north-south and east-west trade flows. We have an advanced transport infrastructure, three major ice-free international ports, an extensive rail, road and pipeline system, and the largest airport in the Baltics with around 90 international direct destinations. Latvia is the largest commercial hub in Baltics. Through Latvia, Western Europe is linked to Scandinavia and Russia as well as Eastern Partnership countries.
Latvia offers a wide variety of competitive advantages for investors – cost effectiveness, a highly skilled workforce, well-developed infrastructure, and macroeconomic stability. Since January 2014, Latvia is a full-fledged member of the Eurozone. Positive and steadily improving assessments of international rating agencies also prove that Latvia is a reliable partner for long-term cooperation and an ideal location for establishing a regional head office.
The Latvian – British Chamber of Commerce can provide contacts and insights for exploring and expanding business ties and to assist in the launch of forward-looking innovative ideas, to share experiences and foster commerce relations between Latvia and United Kingdom.
The United Kingdom traditionally holds its place amongst the top ten most important trade partners of Latvia and its investments have reached more than 410 million euros.
I am proud that already many companies from the United Kingdom are investing in the development of start-ups from Latvia and, through cooperation and partnership with the best the Latvia has to offer, it has become part of paving the way to successful ventures, while supporting the vigor and vitality of the national and regional economies. I am looking forward in 2017 and in years to come to hear more and more stories how Latvian and British companies made profits by pooling their forces, skills and experience.
H.E. Mr Edgars Rinkēvičs, Minister for Foreign Affairs of the Republic of Latvia