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 (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 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 2019 it served 7.8 million passengers breaking the annual passenger record (+10.5% y-o-y growth) and handled 27 265 tonnes of cargo. Riga International Airport serves almost half (49%) of all Baltic capital passengers. In comparison, in 2019, Tallinn (Estonia) served 20% of all passengers, and Vilnius (Lithuania) had 31%. The airport currently serves 18 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 almost 80 destinations in the winter season and around 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.

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, and particularly with Russia and other CIS countries. LIAA provides a host of services for assisting locally-registered companies entering new markets.

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