Latvia Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in latvia, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Transportation Services
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Overview

Due to Latvia’s modest natural resource base and its strategic location between the EU and large markets to the east, the transportation sector is one of the most important in the country. Latvia’s geography, infrastructure, and historic economic links with former Soviet countries are a unique asset for this sector. Latvia is also within the Schengen area. Due to recent geopolitical changes, the sector has seen a significant downturn with Russia diverting cargo to its own ports, and Belarus shifting to Russian ports. This change has increased the appetite of the Latvian logistics sector for alternative suppliers and cargoes. Riga International Airport (RIX) serves as the regional hub for the Baltics and is undergoing significant expansion.

Leading Sub-sectors

Latvia has three major ice-free seaports:  Riga, Liepaja, and Ventspils. Each is actively working to expand and improve services and offer support mechanisms for potential investors. The best prospects are in developing different cargo terminals in the ports, as well as support and logistics hubs for supporting energy projects, including offshore wind park developments in the Baltic Sea.

Opportunities

The Latvian government is prioritizing the development of an effective, secure, multi-modal, and competitive transportation system. Latvia aims to fully integrate its transportation system infrastructure with the trans-European, multi-modal transportation system. Latvia has launched a sustained effort to develop trade and transport links to Asia, including with India and China.

Latvia is also participating in the Rail Baltica project, a $17.6 billion (€15 billion) infrastructure development project that will connect Estonia, Latvia, Lithuania, and Poland, with a possible future link to Finland, through a European-gauge rail system. The project will create several procurement opportunities for U.S. exporters, particularly in the areas of infrastructure design, construction services, and railway equipment.
  
There are many opportunities in Latvia given its good port access, its railways to Central Asian countries, and its high labor competitiveness. In addition to rail and seaports, Latvia has the potential to grow in road freight by investing in infrastructure improvements, and in air transport for both passengers and freight. Opportunities also exist in construction and the development of industrial, logistics, and distribution parks.

Resources

 

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