This is a best prospect industry sector for this country. Includes a market overview and trade data.
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, proximity to Russia, and close ties with other former Soviet-occupied 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 Latvian logistics sector for alternative suppliers and cargoes.
Latvia has three major ice-free sea ports: 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 specified sea ports.
Please refer to the Supplement to the Official Journal of the European Union dedicated to European public procurement and the Latvian Export and Import Directory.
The Latvian government has identified the development of an effective, secure, multi-modal, and competitive transportation system as a priority. The goal for the sustainable development of Latvia’s transportation system is to fully integrate Latvia’s infrastructure with the trans-European, multi-modal transportation system. Latvia has launched a sustained effort to develop trade and transport links to Asia, including India and China.
Latvia is also participating in the Rail Baltica project, a $6 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 CIS 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.
Latvian Ministry of Transport
Latvian Transit and Logistics Sector Overview
Latvian Investment and Development Agency
Special Economic Zones