Posts tagged ‘development’

9. I.Kabashkin, professor TTI, Latvia as Logistics and Transit Centre.

Transportation sector is becoming one of the most dynamic and fast growing sectors in Latvian economy. And even more, this sector is taking the leading positions in the country’s economic development. Due to the country’s favorable geographic situation, Latvia has already become an important trade partner between West and East South and North.

Latvian transport policy is in full compliance with the European Union’s requirements and the country’s transportation network has become an integral part of the EU Trans-European Transport Network (TEN-T). Latvia is actively utilizing available EU funds for the improvement of the country’s transport infrastructures.

Today the advantage of geographic position of Latvia has increased dramatically. The border of Latvia is the border of two large unions – European Union and Customs Union of Belarus, Kazakhstan, Russia. This fact open new transport and trade opportunities for domestic and international companies first of all through the three large ports in Latvia (Ventspils, Riga, Liepaja) that are all part of TEN-T and seven small ports (Salacgriva, Skulte, Lielupe, Engure, Mersrags, Roja, Pavilosta). The inestimable advantage of major ports is their favourable geographical position, ice-free conditions and excellent  railway connections with Eurasian Economic Community’s  hinterland.

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3. A. Veshnyakov, Ambassador of Russian Federation. Cooperation of Russia and Latvia as an Example of Good-Neighborliness and Mutual Respect.

Russia plans to expand its cooperation with Latvia basing on the principles of good-neighborliness and mutual respect. This was clearly demonstrated during the summit in Moscow that took place in December 2010 and contributed to the development of the positive vector in the relations between Russia and Latvia.

Among the countries of the Baltic region Latvia maintains its leading positions in trading with Russia. According to the data of the Russian FCS at the end of 2010 the goods turnover of the two countries rose by 43% if compared to the previous year and reached $6.4 billion. From January to June 2011 the volume of mutual trade made up to $4.4 billion (growth by 35%), with export and import experiencing steady increase to $4.1 billion (+36%) and $0.3 billion (+26%). Energy resources predominated in the structure of Russian export and food and chemical products (mostly pharmaceutical) took the leading positions in import. If this rate of growth continues, in 2011 the trade turnover between Russia and Latvia will reach $8.0 billion.

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