Located on the Baltic Sea, Latvia has three major, ice-free international ports—Riga, Liepaja and Ventspils. They are closely linked into the country’s land-based infrastructure, including an extensive rail, road and pipeline system. The largest airport in the Baltics is Riga International Airport—with over 70 international direct destinations.
Latvia’s external trade and customs policy is based on free trade principles. Latvia is an EU country, a member of Schengen and an active participant of the World Trade Organization, enjoying all the benefits of free and open trade in the world’s markets.
Latvia continues to build on its traditions of innovation and product development. Innovation has been recognised as crucial for the country’s development of a knowledge-based and sustainable economy, as well as Latvia’s overall national and social development.
Latvia offers significant cost advantages, including competitive labour and real estate markets, as well as competitive tax rates. Coupled with strong productivity in manufacturing and services, Latvia provides a highly cost-effective environment for business, producing compelling returns on investment.
Strongest sectors in Latvia
- Metalworking and mechanical engineering
- Transport and storage
- Information technology (including global business services)
- Green technology
- Health care
- Life sciences
- Food processing