Doing Business in Latvia

Our doing business guide provides you with basic knowledge about Latvia; an overview of its economy, business culture, potential opportunities and an introduction to other relevant issues.

The Baltic country of Latvia is located at the crossroads of northern and eastern Europe and offers a range of export and investment opportunities for British companies.

UKTI provides guidance on doing business in this market including:

This includes:

What are the Opportunities?

There are many export and investment opportunities for British companies in Latvia. UK Trade & Investment has identified these sectors as offering the best potential:

  • Timber and timber processing – Latvia has one of the richest forest resources in Europe, covering 44 per cent of the country

  • Transport infrastructure – development of airports, transit development through ports and other links, modernisation of rail transport system, development of the state road traffic networks

  • Energy & Power – cogeneration, renewable energy, energy efficiency projects, micro-generation, energy measuring gadgets, CO2 collecting and storing technologies.

Other sectors especially Tourism and Leisure, ICT, Education & Training, Engineering & Machinery also offer considerable potential.

In 2012, the Latvian economy was by far the fastest growing in the EU. According to the decision of the Council of the EU on long-term financial framework for 2007 – 2013, Latvia has received EUR 4.53 billion for achievement of Cohesion Policy goals through acquisition of the EU funds (ERDF, ESF and CF).


Guide to Doing Business in Latvia

UKTI has produced a guide aimed at companies experienced in overseas trade who are new to doing business with Latvia. This guide aims to provide a route map of the way ahead, together with signposts to sources of help.

  • Introduction

  • Preparing to Export

  • How to do Business

  • What are the challenges

  • Business Etiquette

  • How to invest in Latvia

  • Contacts

Download the Latvia Doing Business Guide

Baltic Business Excellence

A young, well-educated, and innovative labour force is only one of the many reasons why British companies have brought their business to the Baltics. Good geographical links, a favourable tax environment, and stable political and economic situations provide the ‘recipe for success’ enjoyed by British businesses in Estonia, Latvia and Lithuania.

Have a look at the Baltic Business Excellence video to see why British companies know the Baltics are remarkable places to conduct business.

Watch the video on the UKTI YouTube channel

Countries: Latvia
Topics: Getting Started
Export Action Plan