EENI Global Business School

Business in Latvia, Riga, Latvian Economy

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Syllabus of the Subject

Latvian Foreign Trade. Latvia (Baltic Tiger) high human development

  1. Introduction to the Republic of Latvia (EU)
  2. Latvian Economy
  3. Business in Riga
  4. Latvian Foreign Trade
  5. Investment in Latvia
  6. Access to the Latvian Market
  7. Business Plan for Latvia

The objectives of the subject “International Trade and Business in” Latvia” are the following:

  1. To analyze the Latvian Economy and Global Trade
  2. To know the business opportunities in the Latvian Market
  3. To analyze the trade relations of Latvia with the country of the student
  4. To know the Latvian free trade agreements as a member of the EU
  5. To develop a business plan for the Latvian Market

E-learning Course Master, International Business

The Subject “Foreign Trade and Business in Latvia” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: European Business, World Trade.

Doctorate in International Business (DIB) Online

Masters: International Business, Foreign Trade.

Masters in International Business and Foreign Trade (MIB)

EU, Masters, International Business Trade Masters adapted to Latvian Students.

Foreign Trade and Business in the EU Countries

Languages: Masters, Doctorate, International Business, English + Study Master Doctorate in International Business in Spanish Letonia Study Doctorate in International Business in French Lettonie Masters Foreign Trade in Portuguese Letónia.

  1. Credits of the Subject “Doing Business in Latvia”: 1 ECTS
  2. Duration: one week

International Trade and Business in Latvia

Trans-European Transport Corridors

  1. North Sea-Baltic Corridor (Finland, Belgium)
  2. Access to the
    1. Trans-Siberian Railway (Russia, Mongolia, China, North Korea)
    2. Pan-European Corridor II
    3. Pan-European Corridor IX

North Sea-Baltic Transport Corridor (Finland Belgium)

EU International Relations

Market Access - Free Trade Agreements

Latvian Preferential Access and Trade Agreements:

European Single Market

  1. Latvia and the European Economic Area
  2. The EU
    1. European Customs Union
    2. European Single Market
    3. The EU Services Directive
    4. European Digital Single Market
    5. As a member of the EU, Latvia is a beneficiary of the EU Trade Agreements
  3. Council of the Baltic Sea States
  4. Regional Cooperation Council

Latvia is an observer country of the Regional Organization for Democracy and Economic Development (GUAM).

Trade Facilitation Programs. TFA Agreement

  1. WTO
    1. GATS
    2. Agreement on the Application of Sanitary Measures
    3. Agreement on Technical Barriers to Trade
    4. Agreement on Preshipment Inspection
    5. Agreement on Safeguards
    6. Trade Facilitation Agreement
  2. WCO
    1. Kyoto Convention
  3. Convention Harmonization of Frontier Controls of Goods
  4. CMR Convention
  5. ICC
  6. Organization for Cooperation between Railways (OSJD)
  7. CIM & CIT Rules (Rail)
  8. COTIF Convention (Rail)
  9. BIC
  10. Chicago Convention (ICAO)
  11. IMO
    1. Convention for Safe Containers
    2. Istanbul Convention
  12. IRU
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
  13. Customs Convention on Containers - not a member

The EU and Their Institutions

European Trade and Economic Organizations of Latvia

  1. The EU
  2. UNECE
  3. OSCE

Globalization and International Organizations

  1. OECD
    1. OECD anti-corruption measures
  2. UN
  3. WB
  4. WTO
  5. IMF
  6. Asia-Europe Meeting

The Republic of Latvia (Europe).

  1. Latvian Capital: Riga
  2. Official Language of Latvia: Latvian
  3. Latvian Area: 64,590 km²
  4. Latvian Population: 2 million people
  5. Type of Government of Latvia: Parliamentary Republic
  6. Borders of Latvia: Estonia, Lithuania and Belarus
  7. Independence of Latvia from the Soviet Union: 1991

Religion in Latvia: Christianity.

  1. Protestantism: Latvian Evangelical Lutheran Church (35%)
  2. Catholicism (25%)
  3. Orthodoxy (20%)

Christianity and Global Business (Catholicism, Protestantism)

Latvia belongs to the European Economic Area.


Economy of Latvia.

  1. The Republic of Latvia is ranked 21st in the world (Index of Ease of Doing Business, World Bank)
  2. Latvia, Estonia and Lithuania are the so-called Baltic Tigers
  3. According to the Human Development Report (United Nations), Latvia belongs to the very high human development countries group
  4. Latvian GDP (nominal): 41,005 million dollars
  5. GDP per capita of Latvia: 16,620 dollars
  6. Latvian Currency: Euro (2014)
  7. Latvia is a member of the EU since 2004
  8. Headquarters of the Office of the Body of the European Regulators for Electronic Communications (BEREC Office): Riga (Latvia)
  9. The main Latvian economic sectors are tourism, agriculture, textiles and steel metallurgy
  10. The privatization process in Latvia has virtually ended

Foreign Trade (Importing, Exporting)

Latvian Foreign Trade

  1. The main Latvian Exports are foods, wood and wood products, metals, machinery and equipment, textiles
  2. Top export markets: The UK, Sweden and Germany
  3. The main Latvian imports: machinery and equipment, consumer goods, chemical products, fuels
  4. The main suppliers of Latvia: Russia, Germany and Lithuania
  5. As a member of the EU, Latvia is a beneficiary of the EU trade agreements with India, Mexico, MERCOSUR, South Korea, Peru, the ASEAN, Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia..

(c) EENI Global Business School (1995-2023)
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