Delegation of Indian Investors Visits the Freeport of Riga

 

During their visit to the port, representatives of the Indian delegation drew attention to the favourable aspects of potential cooperation, among which special focus was laid on the strategically beneficial location of the port, as well as the low logistics expenses at the Freeport of Riga. The key interest of the Indian entrepreneurs relates to warehouse development in the Freeport of Riga, thus developing the potential of Indian export channels in Europe. Representatives of the delegation also expressed interest in exporting dairy products and timber from Latvia to India.

The interest of Asian entrepreneurs and investors is indicative of the potential of the Freeport of Riga to become a significant point of intersection between Eastern and Western transit business. With the parallel development of the range of infrastructure and logistics services, the role of Latvia can also be increased under the conditions of growing global competition.

There are about 1.2 billion residents in India, and this country is the world’s second largest producer of rice. The basis for the growth of the region are its abundant stocks of mineral deposits, agricultural resources, as well as development initiatives by the Indian government that aim to promote the economic development of regions.

To date the main Indian export goods to the EU have been textile products, agricultural products, and chemicals; and in terms of imports from the EU - products, machinery, and mechanisms of the chemical industry and sectors related thereto.