Finnish — Latvian business cooperation
Lolita Pankova, Head of the Board FinBalt Consulting Ltd
Finnish Trade center –Finpro insure assistance to Finnish companies in entering international markets including Baltic countries and particularly Latvia. Finpro has its own office in Lithuania. Finpro activities in Latvia are provided by Finpro partner – FinBalt Consulting Ltd. FinBalt Consulting offers export market entry assistance as tailored market analyses, partner identification and attraction both for entering Latvian and Finnish markets.
he article is prepared for the Round Table “Cooperation Perspectives within the „Nordic Baltic 8“ dimension“, organised by the Baltic International Academy, Latvian Employers Associationm Diplomatic Economic Club and International Web-Magazine „The Baltic Course“ on 24st of November in Riga, Latvia.
Finnish Latvian trade
Major Finnish export products:
Import from Latvia:
Largest investors are Nordea Bank, Wihuri Oy, Elektroskandia Suomi Oy, Pohjola bank plc, Fazer bakeries Ltd., Konekesko Oy, Rautakirja Oy.
Finnish presence in Latvia is characterized by 349 companies registered at Enterprise Register of Latvia. The number has decreased slightly in the last years. Nevertheless Finnish investors did not performed „leaving“ policy during last 2 years of economy decline in Latvia. In majority cases optimization of costs, adjustment of capacity and consolidation took place.
Finnish companies are investing currently to increase their competitiveness and optimize costs. Among those companies we can mention Cesu alus (Olvi), HK Ruokatalo and Fazer bakeries.
Situation and wellbeing of Finnish companies in Latvia is similar to others in the industry and depend very much on the sector behavior and success. Many companies are reporting stabilization and volume increase and are catching up with opportunities arising from current situation.
For example StoraEnso packaging is reporting stabilization and increase of production volumes and investments in 2009/ 2010. HK Ruokatalo (Finnish meet producer) acquired the 3rd largest meet processing plant — Jelgavas JGK through its Latvian subsidiary. Prisma is planning expansion in short term.
In the same time companies in the construction sector and printed mass media still suffer from decreased market demand and low purchasing power of inhabitants.
Full text at the website of The Baltic Course Finnish — Latvian business cooperation
Finnish Trade center –Finpro insure assistance to Finnish companies in entering international markets including Baltic countries and particularly Latvia. Finpro has its own office in Lithuania. Finpro activities in Latvia are provided by Finpro partner – FinBalt Consulting Ltd. FinBalt Consulting offers export market entry assistance as tailored market analyses, partner identification and attraction both for entering Latvian and Finnish markets.
he article is prepared for the Round Table “Cooperation Perspectives within the „Nordic Baltic 8“ dimension“, organised by the Baltic International Academy, Latvian Employers Associationm Diplomatic Economic Club and International Web-Magazine „The Baltic Course“ on 24st of November in Riga, Latvia.
Finnish Latvian trade
Major Finnish export products:
- Machinery and electrical equipment
- Chemical industry products
- Paper, paper board
Import from Latvia:
- wood and wooden articles
- articles of iron and steel
- Transport vehicles
- Machinery and electrical equipment
Largest investors are Nordea Bank, Wihuri Oy, Elektroskandia Suomi Oy, Pohjola bank plc, Fazer bakeries Ltd., Konekesko Oy, Rautakirja Oy.
Finnish presence in Latvia is characterized by 349 companies registered at Enterprise Register of Latvia. The number has decreased slightly in the last years. Nevertheless Finnish investors did not performed „leaving“ policy during last 2 years of economy decline in Latvia. In majority cases optimization of costs, adjustment of capacity and consolidation took place.
Finnish companies are investing currently to increase their competitiveness and optimize costs. Among those companies we can mention Cesu alus (Olvi), HK Ruokatalo and Fazer bakeries.
Situation and wellbeing of Finnish companies in Latvia is similar to others in the industry and depend very much on the sector behavior and success. Many companies are reporting stabilization and volume increase and are catching up with opportunities arising from current situation.
For example StoraEnso packaging is reporting stabilization and increase of production volumes and investments in 2009/ 2010. HK Ruokatalo (Finnish meet producer) acquired the 3rd largest meet processing plant — Jelgavas JGK through its Latvian subsidiary. Prisma is planning expansion in short term.
In the same time companies in the construction sector and printed mass media still suffer from decreased market demand and low purchasing power of inhabitants.
Full text at the website of The Baltic Course Finnish — Latvian business cooperation
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