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Rietumu Bank: Kazakh Investors Express Interest in Latvia

16-Jun-2016 / Products & Services Last week, with the support of Rietumu Bank, the Latvia-Kazakhstan international business forum was held in Riga.

The forum participants were representatives of government entities, diplomats, owners and top managers of big enterprises from both countries.

Opportunities for expanding the interstate economic cooperation, advantages of investing in Latvia for entrepreneurs from Kazakhstan, the development of free economic zones and other topical issues were discussed. Participants of the event held a number of summit meetings, visited different ministries and held negotiations with business partners.

As Member of the Board of Rietumu Bank Renat Lokomet said, when summarising the results of the forum, “In comparison with similar meetings held earlier, the number of participants has grown considerably, and from both sides. The interest in cooperation is also great. There is a desire to develop it seriously, and this pertains to many areas.”

As Renat Lokomet noted, Kazakhstan, in spite of a complex economic situation in the region, continues developing dynamically. And there is high potential for developing business relations between Kazakhstan and Latvia, “The chief drivers of our cooperation are growth of export and import flows, logistics, development of ports and transit infrastructure. We, as a bank operating with international businesses on a wide scale, see good prospects for companies conducting business in Kazakhstan. There is also an evident interest from the other side – Kazakh investors are ready to contribute to business development in the territory of Latvia, which is traditionally a convenient platform for entering the European market,” emphasised the Rietumu Bank spokesperson.

It has to be noted that according to forecasts the goods turnover between Latvia and Kazakhstan can reach half a billion dollars in the coming years. Such a figure was also pointed out as a strategic goal by the President of Kazakhstan Nursultan Nazarbayev during his meeting with the President of Latvia in Astana.

The current Latvia-Kazakhstan forum has again demonstrated that all interested parties continue to work on forming the New Silk Road – a modern transport route that will connect the Far East, China and Europe and will also cross Kazakhstan and Latvia.

The Latvia-Kazakhstan forum organisers are the Kazakh National Export and Investment Agency “KAZNEX INVEST” and the City Development Committee of Riga City Council. The forum was held within the framework of operation of the Kazakhstan Trade Mission.


Eleonora Gailisha
Mass Media and Public Relations
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