Business in Latvia, Riga, Latvian Economy

1. Introduction to the Republic of Latvia (EU)
2. Latvian Economy
3. Business in Riga
4. Latvian Foreign Trade
5. Transport and Logistics
6. Investment in Latvia
7. Access to the Latvian Market
8. Business Plan for Latvia

The objectives of the subject “Foreign Trade, Logistics and Business in Latvia” are the following:

1. To analyze the Latvian Economy, Logistics and Global Trade
2. To identify business opportunities in the Latvian Market
3. To analyze the trade relations of Latvia with the student's country
4. To know the Latvian free trade agreements as a member of the EU
5. To develop a business plan for the Latvian Market

The Subject “Foreign Trade, Logistics and Business in Latvia” belongs to the following Programs taught by EENI Global Business School:

Doctorate: World Trade.

Masters: International Business, Foreign Trade.

Languages: + Letonia Lettonie Letónia.

1. Credits of the Subject “Business, Trade and Transport in Latvia”: 1

1. North Sea-Baltic Corridor (Finland, Belgium)
2. Access to the
   1. Trans-Siberian Railway (Russia, Mongolia, China, North Korea)
   2. Pan-European Corridor II
   3. Pan-European Corridor IX

Latvian Preferential Access and Trade Agreements:

1. Latvia and the European Economic Area
2. European Union
   1. European Customs Union
   2. European Single Market
   3. The EU Services Directive
   4. European Digital Single Market
   5. As a member of the EU, Latvia is a beneficiary of the EU Trade Agreements
3. Council of the Baltic Sea States
4. Regional Cooperation Council

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

1. World Trade Organization (WTO)
   1. Agreement on Trade in Services (GATS)
   2. Agreement on the Application of Sanitary Measures
   3. Agreement on Technical Barriers to Trade
   4. Agreement on Preshipment Inspection
   5. Agreement on Safeguards
   6. Trade Facilitation Agreement
2. World Customs Organization (WCO)
   1. Kyoto Convention
3. Convention Harmonization of Frontier Controls of Goods
4. CMR Convention
5. International Chamber of Commerce
6. Organization for Cooperation between Railways (OSJD)
7. CIM & CIT Rules (Rail Transport)
8. COTIF Convention (Rail)
9. BIC
10. Chicago Convention (ICAO)
11. International Maritime Organization (IMO)
    1. Convention for Safe Containers
    2. Istanbul Convention
12. International Road Transport Union (IRU)
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
13. Customs Convention on Containers - not a member

European Trade and Economic Organizations of Latvia

1. The EU
2. Economic Commission for Europe (UNECE)
3. OSCE

1. OECD
   1. OECD anti-corruption measures
2. United Nations
3. World Bank
4. World Trade Organization (WTO)
5. International Monetary Fund
6. Asia-Europe Meeting

1. Latvian Capital: Riga
2. Official Language of Latvia: Latvian
3. Latvian Area: 64,590 km²
4. Latvian Population: 2 million people
5. Type of Government of Latvia: Parliamentary Republic
6. Borders of Latvia: Estonia, Lithuania 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 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. Latvian GDP (nominal): 41,005 million dollars
5. GDP per capita of Latvia: 16,620 dollars
6. Latvian Currency: Euro (2014)
7. Latvia is a member of the EU since 2004
8. Headquarters of the Office of the Body of the European Regulators for Electronic Communications (BEREC Office): Riga (Latvia)
9. The main Latvian economic sectors are tourism, agriculture, textiles and steel metallurgy
10. The privatization 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 UK, 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 EU, Latvia is a beneficiary of the EU trade agreements with India, Mexico, MERCOSUR, South Korea, Peru, the ASEAN, Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia...