Latvian businesses receive information about business opportunities in Southeast Asia

14.06.2019. 16:58

On 14 June 2019, the Ministry of Foreign Affairs, in cooperation with the Investment and Development Agency of Latvia (LIAA), held a seminar on “Business opportunities in Southeast Asia, Singapore, Vietnam, and Indonesia”. The seminar had been arranged in view of the new trade agreements with the region’s countries, the increasing interest of businesses in these markets, and to prepare better for the upcoming visit by the Minister of Foreign Affairs, Edgars Rinkēvičs, to Vietnam and Indonesia, scheduled for 16 to 19 July, in which Latvian companies have been invited to participate.

The event was opened by the State Secretary Andris Pelšs, who underlined that improved trade conditions were one of the ways to open the door between the two business worlds. The near future will see the signing of a Free Trade Agreement between the European Union and Singapore, thereby offering a broader access to one of the highest-developed economies of the Association of Southeast Asian Nations. The upcoming Free Trade Agreement and the Investment Protection Agreement with Vietnam will ensure transparency and better conditions for doing business with that country.

Taking part in the seminar were the non-resident Ambassador of Latvia to the Republic of Indonesia, Singapore and Malaysia, Normans Penke, the Head of the Representative Office in Singapore at LIAA, Lāsma Līdaka, and officials from the Ministry of Foreign Affairs and the Directorate General for Trade of the European Commission (DG TRADE).

The participants also had the opportunity to learn about the experience, impression and problems of businesses exploring and operating in the Southeast Asian region. The companies SIA Peruza, AS SAF Tehnika and SIA PharmIdea shared their practical advice. The seminar had brought together representatives from more than 80 companies in Latvia.


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