Transport sector

An Expert's View about Airports in Latvia

Posted on: 15 Mar 2012

Latvia as a priority recognizes the development of an effective, secure, multi-modal, balanced, environmentally friendly and competitive transport system.

Transport sector in Latvia The transport sector plays a key role in the Latvian economy due to the country's location. Latvia as a priority recognizes the development of an effective, secure, multi-modal, balanced, environmentally friendly and competitive transport system. Market overview The transport sector plays a key role in the Latvian economy due to the country's location. Latvia has the highest net cash flow from trade in transport services, mainly due to the transit flow of oil and related products by railways and pipeline. Freight shipment from Russia and other CIS countries to the West is the core of the transit industry. The centres of the freight transit industry are the seaports of Riga, Ventspils and to a lesser extent Liepaja. About 90 per cent of transit traffic goes to seaports. Rail is the second dominant transport, and is mainly oriented to transit freight. Roads play an important role for freight turnover however the role of truck transport is mainly seen in short hauls. Analysing Latvia?s transit corridor at the State level, it must be noted that Latvia as a priority recognizes the development of an effective, secure, multi-modal, balanced, environmentally friendly and competitive transport system. The main goal for the sustainable development of Latvia?s transport is to fully integrate Latvia?s transport infrastructure with the Trans-European multi-modal transport system (TEN-T). Special attention is paid to developing coastal shipping and combined transportation. Promotion of ferry traffic in the Baltic Sea is and will be emphasized further by involving Latvia?s ports. The priority is to construct and develop industrial and distribution parks. In developing the transport and energy infrastructure of the European Union, essential conditions are: the effective use of the transport and energy network; the development planning from the economic point of view, taking into account established goods and passenger transport corridors; and the development potential of economic relations between the European Union and its neighbouring countries. Key opportunities ? investment in the elements of TEN-T, ? ensuring stable growth of volume of transit freight, ? development of distribution and logistics centres, and ? increase in value-added cargo. Key projects: ? Rail Baltica project ? Development of the Riga International Airport Latest export opportunities ? Mass Transport Latest export opportunities ? Latvia Getting into the market The most common way of entering Latvian market is finding a reliable business partner ? usually a distributor. Depending on the business type the British company might also consider formation of a joint venture with a Latvian company already present in the market. Since the country is rather small, local contacts and good relationship are extremely important for conducting a successful business in Latvia. More about doing business in Latvia Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ? Anete Bluma, British Embassy Riga. Tel: +371 67774709 or email: anete.bluma@fco.gov.uk ? Rolands Kumpins, British Embassy Riga. Tel: +371 67774710 or email: rolands.kumpins@fco.gov.uk Contact your local international trade team UKTI Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Exhibitions Motorcycle and Baltic Boat Show 2012 30 March ? 1 April 2012 http://www.bt1.lv The 13th International exhibition Motor Show Auto 2012 27 ? 29 April 2012 http://www.bt1.lv Latest events ? Mass Transport Useful links More about OMIS and other UKTI services for exporters
Posted: 15 March 2012