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Latvia and the EU

Latest business news about Latvia and the European Union.

Europe to invest EUR 10m in micro-enterprises in the Baltic States
The European Investment Fund and Noviti Finance signed a EUR 10m cooperation agreement Thursday to give micro-businesses in Latvia, Lithuania, Estonia better access to finance.

Baltic Energy Market Interconnection Plan
The primary objective of the Baltic Energy Market Interconnection Plan (BEMIP) initiative is to achieve an open and integrated regional electricity and gas market between EU countries in the Baltic Sea region, ending energy isolation. The initiative's members are the European Commission and Denmark, Germany, Estonia, Latvia, Lithuania, Poland, Finland, and Sweden. Norway participates as an observer.

Baltic states sign energy synchronisation agreement with EU
The heads of state or government of Lithuania, Latvia, Estonia and Poland signed a roadmap Thursday for synchronising the Baltic States' electricity grid with the continental European network by 2025.

Synchronisation of Baltic States' electricity networks with the continental European network (CEN)
On 28 June, European Commission President Jean-Claude Juncker signed, jointly with leaders of Lithuania, Latvia, Estonia and Poland a political Roadmap for synchronising the Baltic States' electricity grid with continental Europe.

Latvia tops Europe's innovation scoreboard
EU innovation is catching up with Japan and the US, with Latvia the fastest growing innovator, according to the Commission's 2016 European Innovation Scoreboard released Thursday.

Bird's eye view of Latvia
This exhibition is all about revealing the beauty of the Earth. When you fly above our earth in an airplane all the details begin to merge, the daily bustle of life disappears, puffy cumulus clouds float by as if a white flock of sheep as you traverse the broad heavens. Stunning landscapes open up before your very eyes – all of this has of course been superbly described by Antoine de Saint- Exupéry and Richard Bach. But this exhibition is about the particular beauty of Latvia, about Latvia’s green forests, its winding rivers, the fields that farmers till, the fascination of marshes and other landscapes as seen from above, the mystery of the Old City streets of Rīga and the majesty of its churches as they reach toward heaven.

EUR 28m package for Baltic Milk Producers
The European Commission on 18 November confirmed its intention to adopt a EUR 28m support package for milk producers in Estonia, Latvia and Lithuania. This new package is the latest in a series adopted by the Commission in response to the Russian ban on the importation of certain EU agricultural products.

Latvia 18th EU Member State to adopt the euro
Following Latvia's adoption of the euro on 1 January 2014 - the 15th anniversary of the launch of the euro in 1999 - 18 Member States and 333 million Europeans share the same currency. This is a major achievement for Latvia and for the euro area as a whole. Latvians start withdrawing euro cash and paying for their purchases in euro. This has been made possible thanks to thorough preparations ahead of the introduction of the EU's single currency.

Latvia ready to adopt euro in 2014 - EC convergence report
The European Commission has published its 2013 Convergence Report on Latvia, together with a citizen's summary that briefly explains the report and the rationale behind it. The Commission concludes that Latvia has achieved a high degree of sustainable economic convergence with the euro area and proposes that the Council decide on Latvia’s adoption of the euro as from 1 January 2014.

Latvia: country overview
Latvia regained independence from the Soviet Union in 1991. The country acceded to both the EU and NATO in the spring of 2004; it joined the eurozone in 2014. The most important sectors of Latvia's economy in 2015 were wholesale and retail trade, transport, accommodation and food services (25.2 %), industry (16.4 %) and public administration, defence, education, human health and social work activities (15.7 %). Latvia's main export partners are Lithuania, Russia and Estonia, while its main import partners are Lithuania, Germany and Poland.

Doing business in Latvia: Sustainability
Many companies in Latvia have incorporated corporate social responsibility (CSR) into their practice and voluntarily contribute to social development and environmental protection.

Doing business in Latvia: Environmental rules
The guide summarizes the Latvian laws on environmental protection and how businesses should take these into consideration.

Doing business in Latvia: Staff welfare
The guide summarizes the main legislation that sets out employment and social rules in Latvia.

EU okays Latvian state aid for exporting firms
The European Commission has authorised, under EU State aid rules, a measure adopted by Latvia to limit the adverse impact of the current financial crisis on exporting firms.

LAWIN is one of the leading and largest law firms in the Baltics providing services in all major fields of business law.

Representation of the European Commission in Latvia
Contacts of the European Commission representation in Latvia.

Latvia Investment Climate 2009
The Latvian government actively encourages foreign direct investment, and works with investors to improve the country's business climate. In keeping with European Union and World Trade Organization requirements, there is no screening of foreign investment. The government continually strives to bring Latvian economic institutions, laws and regulations into conformity with EU directives.

Starting a business in Latvia
An overview of the process of starting a new business in Latvia.

Access to finance
During economic growth in Latvia the most popular method of financing was bank loans. After Latvia joined the European Union businesses actively applied for EU funding. The Ministry of Economics is in charge of defining and coordinating government assistance policy for businesses.

Commission recommends 2012 for correction of Latvia's excessive deficit - briefing
The European Commission on 2 July concluded that Latvia is running an excessive deficit under Article 104.7 of the EU Treaty and has proposed a deadline for its correction.

Latvia and the euro
Latvia joined the European Union in 2004 and is currently preparing to adopt the euro.

Find an office in Latvia
Instant Offices Latvia

Latvia country profile
Latvia regained independence from the Soviet Union in 1991. The country became a member of the European Union on 1 May 2004.

Business Directory Latvia
Business directory of Latvia with business news and economic information

Latvia Development Agency
The objective of the Latvian Investment and Development Agency (LIDA) is to promote business development by facilitating more foreign investment, in parallel increasing the competitiveness of Latvian entrepreneurs in both domestic and foreign markets.