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WEEK 35th 2004

Friday, the 27th of August, 2004

Riga is registered in Brussels
On August 26 Riga Mayor, Gundars Bojars, and the head of the Development Agency of Riga Region, Dans Bertulis, signed an agreement on establishing Riga’s representative office in Brussels. Its maintenance costs will reach EUR 32.3 thousand per year. According to Gundars Bojars, the office will help to acquire EU funds more efficiently, lobby Latvian interests in the EU, as well as help Latvian entrepreneurs in finding business partners abroad.

Thursday, the 26th of August, 2004

Latvia experiences the fastest growth in import in EU
In January-May 2004 the fastest growth in import in the EU-countries was registered in Latvia, according to the Eurostat data. Latvian import grew by 24%, up to EUR 2.2 billion. Latvia’s foreign trade deficit increased up to EUR 1 billion in the first five months of 2004. In the same period of 2003 it was EUR 700 million.
Dienas Bizness

Byelorussia calls for investors
Byelorussian Ministry of Economy prepared new data on the investments opportunities in Byelorussian companies for Latvian businessmen. In total 48 companies offer approximately 50% of their shares for privatization. The list is available in the Embassy of Byelorussia. It is possible to privatize some of the enterprises sending the applications for the tenders. The shares of others could be bought during the auctions.

Wednesday, the 25th of August, 200

Germans open a business-club
On August 24, 2004, the official opening of German-Baltic Chamber of Commerce took place in Riga. The new organisation is going to promote the development of German-Baltic trade relations. At present it includes 230 companies, which have to pay membership fees, EUR 500-1,000 per year depending on the size of the enterprise. They will have free access to the wide range of services: establishing business contacts, business meetings and congresses etc. The similar offices were opened in Tallinn and Vilnius; they are also situated in all the new EU-states except Slovakia.

Tuesday, the 24th of August, 2004

According to the forecast of the Union of Economists–2010, in 2004 the growth in Latvian GDP should reach 7.75%. This is more than the Latvian Bank had forecasted before, 7.5%, and more than the Ministry of Finance had planned, 6.7%. The Union is also optimistic about 2005. It supposes that the GDP growth should be 7.2%.

Monday, the 23rd of August, 2004

Growth in producer prices does not calm down
In July 2004 the growth in prices in Latvian industry achieved another one record. It constituted 9.3%, according to the data of the Central Statistical Bureau. In manufacture the prices increased by 9.3%, while in extractive industry this index was 5.7%. In comparison with June 2004 producer prices grew by 0.5%.
Dienas Bizness

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