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 Observer Latvija SIA

WEEK 14th. 2004

Friday, the 2nd of April, 2004

Business connections are not active
Latvian-Slovakian total trade turnover in 2002 was EUR 29.1 million. In the list of Latvian trade partners, Slovakia was on 26th place according to this index. During the last years import of goods from Slovakia exceeded export. The amount of Slovakian investments into Latvia in the period from 2000 to the 3rd quarter of 2003 was EUR 146,487. The economic cooperation between the countries is not as active as it could be, because the search for partners requires investments, but Slovakian economy is still developing. However, some of Slovakian companies offer business collaboration to Latvian colleagues.
(Diena)

Book about money
Latvian Traders Association has launched information campaign for businessmen, who hope to receive money from the EU funds. Besides the seminars held in different Latvian towns, a special brochure on this issue is published. Entrepreneurs can find there information on what they have to do in order to (Kommersant Baltic Daily)

Thursday, the 1st of April, 2004

Big problems of small enterprises
According to the research conducted by Eurostat, the state of Latvian small enterprises (less than 10 persons) is difficult. Latvian employees have one of the lowest payments per hour among the EU member-states and candidate-countries, EUR 0.88 per hour. The employees of larger companies in Latvia receive more. If there are 10-49 persons in the company, the employee receives EUR 1.28, if 50-249 persons, EUR 1.80 per hour. The employees of the largest companies, from 500 to 999 people, receive EUR 2.69 per hour. The working day in Latvia lasts longer than in other countries. In general the amount of working hours in Latvia is the largest in Europe: 1,850 hours per year in comparison with 1,714 in Europe. Latvian small and medium enterprises are also beyond their European colleagues in the amount of investments and in the sphere of innovations.
(Telegraf)

Wednesday, the 31th of March, 2004

Importers will have quotas
Starting from May 1 tariff quotas for importing goods from non-EU countries will be available to Latvian businessmen. Their amount will be defined every year. Quotas allow importing into the EU a certain amount of goods from the third countries with alleviations.
(Kommersant Baltic Daily)

Do not disturb, you are in the EU!
Starting from May 1 the new rules on the circulation of goods, to which excise tax should apply, will start to function. The separate storehouses should be created for the goods from the EU and from the third countries; the businessmen will also have to have separate licenses for the products from the EU and other countries. Besides, they can not be blended, however at present many businessmen use blending.
(Kommersant Baltic Daily)

Tuesday, the 30th of March, 2004

Government heads for export
The Ministry of Economy of Latvia has worked out the basic provisions of export promoting policy in 2005-2009. According to the document, there are four priorities for Latvia: it has to develop public institutions, to increase competitiveness of the local companies, to support businessmen when they enter the new markets and to develop financial instruments. For their successful implementation the specialists will have to conduct regular analysis of foreign trade, to expand the chain of Latvian economic representative offices abroad, to train the businessmen in marketing and management, to conduct researches of potential markets and to look for new partners.
(Bizness&Baltija)

Monday, the 29th of March, 2004

Last year electric industry grew by 7.3%
In 2003 Latvian electrotechnical industry experienced growth by 7.3%. More than the half of the production made by Latvian companies of this sector is exported to 35 countries. Many small enterprises developed into the medium ones. According to forecasts, the next year will be even more successful.
(Diena)

Further from Brussels
The specialists think that large enterprises will not wait for money from Brussels because the process of receiving it is long. They would rather transfer their production abroad, for example, to Russia or Byelorussia. However, it will be profitable only for large enterprises, which can afford investing money into development.
(Kommersant Baltic Daily)

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