EU – Baltic States, Innovations, Latvia, Markets and Companies, Technology, Transport

Kucinskis informed the Japanese business representatives about the tax reforms in Latvia, including a special tax regime for startups and technology-intensive companies, and the progress with reforms in health care an education, the Latvian prime minister's office said.

Sustainable growth, including integration in global value chains, is the challenge for the Latvian economy internationally, he said.

"I see Latvia and Riga as the connections linking regional flows of assets - talents, tourists and, of course, freight. Latvia leads the Baltic region by cargo turnover at ports, and Riga has the largest passenger airport in the Baltic region," Kucinskis said. A direct air connection between Riga and Japan would also serve as the shortest bridge between Asia and Europe, with Riga offering excellent connectivity with major European cities.

Latvia is working to diversify its transport and logistics offer and to find new markets. Latvia's advantages include the ability to handle transit freight at ports, by rail and by air. Riga provides multi-modal solutions for distribution of goods to North Europe, Russia and the CIS countries.

Kucinskis said that Latvia could also serve as the North European innovation platform. "Latvia has all the preconditions to become 'a magnet' for the innovation activities in North Europe," he said.

As reported, Kucinskis is visiting Japan on December 5-9. He will have meetings with the Japanese prime minister and several ministers as well as with the members of the Latvian-Japanese parliamentary cooperation group. The Latvian prime minister will also participate in forums on Latvian-Japanese economic cooperation development organized by the Japan External Trade Organization and the Fintech Center of Tokyo (FINOLAB).