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Accessibility to large markets
Latvia can be proud of its 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 Scandinavia, EU and Asia. 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 to 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 2023, it handled 6.63 million passengers, the highest number in the Baltics for a single airport, and 19 160 tonnes of cargo. The airport currently serves 12 airlines, including Latvia’s national airline airBaltic, low-fare carriers Ryanair, Wizzair, Norwegian and Transavia as well as European network carriers – Lufthansa, Turkish Airlines, LOT and Finnair. In 2023, Riga Airport welcomed two new air carriers – British Airways and Aegean Airlines, another FlyDubai will begin flights in October 2024 boosting connectivity to Dubai. The said companies and others ensure fast and reliable direct travel from Riga International Airport to over 85 destinations in the winter season and over 100 destinations in the summer season.
In 2016, Riga International Airport completed the construction of a North Pier for the terminal, which will enable the airport to continue its current growth and increase passenger-handling capacity.
RIX Airport City – a new concept city
The development of the RIX Airport City, which is part of the Airport's medium-term strategy "Runway 2027", includes the development of existing traditional aviation services – passenger and cargo transport – and integration thereof with other business activities, from innovation and start-ups, e-commerce, logistics and manufacturing businesses, to various kinds of tourism, hospitality, and leisure services.
Free trade
Latvia’s external trade and customs policy has 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 business knowledge and cultural norms that allow partnerships with Western European countries. LIAA provides a host of services for assisting locally-registered companies entering new markets.
Contacts
Riga office
Address: 2 Perses Street, Riga, Latvia, LV-1442
Web: www.investinlatvia.org
For more information: invest@liaa.gov.lv
Phone: +371 25710113
For tailored advice contact our team of experts