Latvian Chamber of Commerce and Industry: Baltic business representatives should cooperate to boost exports

RIGA - Instead of creating mutual competition, Baltic business representatives should consider cooperation in order to conquer large export markets, said representatives of the Latvian Chamber of Commerce and Industry (LTRK) and Latvian businessmen working in Estonia during the meeting of the chamber’s Estonian representation on February 3.

"While we are looking at each of the countries separately, we are a small and uninteresting market for investors, and we are not able to offer sufficient amounts for exports. If we are able to cooperate, not only the whole Baltic region will gain, but also exports will develop steeper," said LTRK representative in Estonia Kaspars Pacevics.

Mait Palts, the head of the Estonian Chamber of Commerce and Industry explained that Latvia, Estonia, and Lithuania are able to compete within the EU, but when considering further away from markets, chances of Baltic businessmen are shrinking, therefore cooperation is essential.

Also, in different international projects, political support is necessary, for example, as in VIA Baltic motorway project or Rail Baltica railway project. Joint projects would increase the whole region’s competitiveness and economic activity.

The Latvian Chamber of Commerce and Industry (LTRK) is a non-governmental organization uniting micro, small, medium and large-sized companies from all regions and economic sectors of Latvia. Based on the number of its members, LTRK is the largest business organization in Latvia, which unites individual companies, industry associations, city business clubs, and other business organizations.