Latvian Style Business

- City of Almaty

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The conference of entrepreneurs "Almaty-Latvia" was held in the megalopolis. Representatives of more than 20 Latvian companies representing various sectors of the economy: information technologies and engineering-technological solutions, pharmaceuticals, cosmetics, ecology, tourism, architecture, design, took part in the bilateral business forum. Particular attention is planned to be given to the sphere of transport and logistics. The business mission was led by Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia to the Republic of Kazakhstan Juris Pogrebnyaks. He noted the high interest of Latvians in partnership with Kazakhstan, in view of the rapidly developing economy of our country. "Kazakhstan is Latvia's largest trade partner in Central Asia. Today 27 joint ventures operate in Almaty and 58 more with participation of the Latvian capital. We are attracted by political stability, the development of transport routes, investment opportunities in Kazakhstan. However, I believe that our airlines should think about the restoration of direct flights between Riga and Almaty. Riga Airport serves more than 35 million people a year, has 89 direct routes, almost anywhere in the world. What will cooperation give us? First of all, Latvia is a member of the EU, which means that you will have access to a 500-million consumer market. In addition, we have a system of tax preferences for foreigners ", - invited the diplomat to cooperate. In addition to other advantages of joint actions, Yuri Pogrebnyaks also noted the fact that Latvia is one of the five fastest Internet in Europe and the world's top ten. Deputy Akim of Almaty Yerlan Aukenov invited the guests to participate in the Industrial Zone of Almaty, where out of 490 hectares 70 are free. "In addition, you have great opportunities for exporting food industry. Almaty's need for food is about 3 billion a year, of which 1 billion is imports", - said Aukenov. The Chamber of Entrepreneurs of Almaty city also offered to support the undertakings of businessmen. "Trade turnover between Kazakhstan and Latvia in 2015 amounted to 150.4 million USD, although as early as 2014 the figure reached 324 million USD. The decline is observed, but we hope to strengthen our relationship. The Chamber of Entrepreneurs of Almaty is ready to provide consulting assistance to investors, complete legal support of your projects, assistance in finding local partners", - said Kayrat Kudaibergen, deputy director for legal issues of Almaty Chamber of Entrepreneurs. According to the Latvian State Register, 33 joint Latvian-Kazakh enterprises are registered in Latvia. In Kazakhstan 60 joint ventures with participation of the Latvian capital are registered. They are mainly engaged in the fields of logistics, trade and consulting of financial organizations. Latvian pharmaceutical giants “Grindeks” and “Olainfarm” in Kazakhstan have their representative offices. Representations of commercial banks of Latvia - "Rietumbank", "BaltikumsBank", "ABLVBank" are also located in Almaty. A significant place in the Kazakh export is occupied by cotton fiber, rape seeds, in third place salts of oxymetallic acids and mineral fertilizers. Mainly frozen fish and canned fish are imported from Latvia to Kazakhstan. The fermented preparations of pharmaceutical production are on the second place of the Latvian import to Kazakhstan. An important area of Kazakh-Latvian cooperation is transit-transport cooperation. Since 2003, the Baltika-Transit container train has been operating between the two countries, which delivers different cargoes from Latvian ports to Kazakhstan. The parties actively cooperate within the framework of the Kazakh-Latvian Intergovernmental Commission on Trade and Economic Cooperation.