Business in Latvia, Riga

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Syllabus of the Subject - Doing Business in Latvia. Riga (Course, Master).

  1. Introduction to the Republic of Latvia (European Union)
  2. Latvian Economy
  3. Doing Business in Riga
  4. Latvian Foreign Trade
  5. Foreign Direct Investment (FDI) in Latvia
  6. Access to the Latvian Market
  7. Business Plan for Latvia

The objectives of the Subject “Doing Business in Latvia” are the following:

  1. To analyse the Latvian Economy and Foreign Trade
  2. To know the business opportunities in the Latvian Market
  3. To analyse the trade relations of Latvia with the country of the student
  4. To know the Latvian free trade agreements as a member of the European Union (EU)
  5. To develop a business plan for the Latvian Market

The Subject “Foreign Trade and Business in Latvia” is part of the following Online Higher Education Programs taught by EENI:
  1. Doctorates: European Business, Global Trade
  2. Masters: Business in Europe, International Business, Foreign Trade

European Union, Master Doctorate Business Masters and Doctorates in International Business adapted to the Latvian Students

Online Students, Master in International Business

The course materials are available in Master in International Business in English + Study Master Doctorate Business in Spanish Letonia Study, Master in International Business in French Lettonie Masters Foreign Trade in Portuguese Letónia.

  1. Credits of the Subject “Doing Business in Latvia”: 1 ECTS
  2. Duration: one week

European Union-Central America Free Trade Agreement (Course)





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Paterson Ngatchou: EENI Academic Coordinator for Anglophone Countries
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Description of the Subject: Doing Business in Latvia

The Republic of Latvia (Europe)

  1. Latvian Capital: Riga
  2. Official Language of Latvia: Latvian
  3. Latvian Area: 64,590 square kilometres
  4. Latvian Population: 2 million people
  5. Type of Government of Latvia: Parliamentary Republic
  6. Borders of Latvia: Estonia, Lithuania, Russia and Belarus,
  7. Independence of Latvia from the Soviet Union: 1991

Religion in Latvia: Christianity

  1. Protestantism: Latvian Evangelical Lutheran Church (35%)
  2. Catholicism (25%)
  3. Orthodoxy (20%)

Latvia belongs to the Western Civilisation (European Economic Area)

Economy of Latvia.

  1. The Republic of Latvia is ranked 21st in the world (Index of Ease of Doing Business, World Bank)
  2. Latvia, Estonia and Lithuania are the so-called Baltic Tigers
  3. According to the Human Development Report (United Nations), Latvia belongs to the very high human development countries group
  4. Financial crisis in 2008-2009
  5. Latvian GDP (nominal): 41,005 million dollars
  6. GDP per capita of Latvia: 16,620 dollars
  7. Latvian Currency: Euro (2014)
  8. Latvia is a member of the European Union since 2004
  9. Headquarters of the Office of the Body of the European Regulators for Electronic Communications (BEREC Office): Riga (Latvia)
  10. The main Latvian economic sectors are tourism, agriculture, textiles and steel metallurgy
  11. The privatisation process in Latvia has virtually ended

Latvian Foreign Trade

  1. The main Latvian Exports are foods, wood and wood products, metals, machinery and equipment, textiles
  2. Top Export Markets: The United Kingdom, Sweden and Germany
  3. The main Latvian imports: machinery and equipment, consumer goods, chemical products, fuels
  4. The main suppliers of Latvia: Russia, Germany and Lithuania
  5. As a member of the European Union, Latvia is a beneficiary of the EU Free trade agreements with India, Mexico, MERCOSUR, South Korea, Peru, the ASEAN, Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia...

International Economic Relations of Latvia

  1. Council of the Baltic Sea States
  2. European Union
  3. International Chamber of Commerce
  4. World Bank
  5. Regional Cooperation Council
  6. Economic Commission for Europe (UNECE)
  7. Organisation for Economic Cooperation and Development (OECD)
  8. Organisation for Cooperation between Railways (OSJD)
  9. World Trade Organisation
  10. International Rail Transport Committee (CIT)
  11. Group of States of the European Council Convention against Corruption (GRECO)
  12. European Investment Bank (EIB)
  13. Convention Relating to Temporary Admission
  14. International Monetary Fund (IMF)
  15. United Nations
  16. Organisation for Security and Cooperation in Europe (OSCE)
  17. European Bank for Reconstruction and Development
  18. Asia-Europe Economic Meeting (ASEM)

Latvia is an observer country of the Regional Organisation for Democracy and Economic Development (GUAM)

Examples of the Subject - Foreign Trade and Business in Latvia:
Council Baltic Sea States (e-Master)

Regional Cooperation Council (e-Master, Europe)



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