Belarus and Latvia jointly implement over 2,000 investment projects

“Belarusian-Latvian co-operation enjoys centuries-long history, characterised by the expansion of contacts and interaction,” notes the Chairman of the Belarusian Twin Towns Public Association. A member of the Council of the Republic of the National Assembly of Belarus, Boris Batura, has told those gathered for the third meeting of Belarusian and Latvian Twin Towns and Partners, “Latvia is Belarus’ major partner and investor, ranked 10th for direct investment into the Belarusian economy.”

He continued, “The total number of jointly implemented investment projects in trade, transport and financial services, alongside industry and agriculture, exceeds 2,000. Belarus has over 660 organisations with Latvian participation (including individual entrepreneurs) and 31 representations of Latvian companies. Meanwhile, Latvia has over 1,500 firms with Belarusian investments.”

Mr. Batura stressed the dynamic development of mutual trade, including in the spheres of transport, tourism, information, and computer and business services. Belarus and Latvia have good prospects to expand co-operation across logistics, IT and the manufacture of innovative goods.

Latvian consumers are well aware of Belarusian agricultural and automobile vehicles, with small-scale ‘Belarus’ tractors assembled in Latvia, alongside construction and municipal vehicles. Belarus’ Amkodor entered the Latvian market with its loading equipment in 2014.

Mr. Batura noted that Belarus exports a wide assortment of food products, clothes, knitwear, footwear and household appliances to Latvia, while Latvian food products and cosmetics are well-known in Belarus. Latvia is an important transit partner, with 80 percent of Belarusian exports shipped by sea via Latvian ports.