International Internet Magazine. Baltic States news & analytics
Wednesday, 03.09.2014, 07:36
A young fashion designer from Latvia Alise Aleksandra is proud to present the new collection inspired by the architecture and nature. The designer is planning to base the label both in Latvia and London, UK, reports Alise Aleksandra Pavara.
Keyword tags: Baltic Export, EU – Baltic States, Good for Business, Latvia, Markets and Companies
AB Snaige, engaged in manufacture and sales of refrigerators and freezers, achieved an EBITDA of LTL 3.3 million (EUR 955 thousand) as in the first half of 2014 despite LTL 74.4 million (EUR 21.5 million) turnover (according to unaudited consolidated financial results) caused by the dramatic events in Ukraine, informs LETA/ELTA.
More than 40 leaders of Latvian food production companies participated in a meeting with Uzbekistani business owners yesterday. Although, specific cooperation agreements could be signed in November 2014 after the scheduled exhibition for food industry in Almaty, the Latvian Agricultural Consulting and Education Center spokeswoman Iveta Tomsone informed the business portal Nozare.lv, cites LETA.
Latvian dairy producers will have access to Chinese market already this fall, thus, dairy companies will have a chance to export their production to a country that has a rapidly growing food market, representatives of the Agriculture Ministry informed the business portal Nozare.lv, cites LETA.
Norway's Orkla – the new owner of NP Foods and its companies Laima, Gutta, Staburadze, Staburadzes konditoreja and Margiris, plans to increase turnover by 6% annually, as well as expand export volumes to Western Europe and Asia, focusing on Laima as the leading brand, informs LETA.
If Russia decides to include sprats on its list of banned import products, Latvia will suffer direct losses in the amount of EUR 38 million, and more than 10,000 people will be laid off, Agriculture Minister Janis Duklavs (Greens and Farmers' Union) told the press representatives yesterday, cites LETA/Nozare.lv.
The Ministry of Economy in Lithuania, seeking to stimulate export and reduce companies' losses arising from sanctions imposed by Russia will additionally allocate LTL 13.2 million (EUR 3.8 million) to implement projects under the measure New Opportunities, informs LETA/ELTA.
Latvian forest industry's export reached EUR 1.06 billion in the first half of 2014. It is a rise of 10% compared to EUR 912,307 million in the same period in 2013, reports the Latvian Institute, according to data provided by the Ministry of Agriculture.
Even though dairy producers claim that they have been cornered by the Russian embargo, but brewers second the prime minister and find such commotion to be out of touch with reality, reports LETA/ELTA, referring to Vakaro zinios.
Belarus is interested in Lithuanian agricultural and food products, especially raw milk and beef. Moreover, Belarusians would like to establish joint enterprises with Lithuania, stated Minister of Agriculture Virginija Baltraitiene who paid a working visit to Belarus, informs LETA/ELTA.
In the first six months of 2014, Latvijas Finieris posted EUR 102 million in turnover, whereas the value of the company's exports was EUR 79 million, which is respectively 4% and 2% more than in the same period of 2013, the company's spokeswoman Jolanta Medne informed the business portal Nozare.lv, cites LETA.
When Russia imposed import bans in the past, Lithuanian traders successfully diversified their sales, shows the analysis carried out by the State Tax Inspectorate (VMI). 2013-2014 first half results of companies trading with Russia were compared, reports LETA/ELTA.
Lithuania has recently actively developed relations with the United States. US Ambassador Deborah McCarthy met with Minister of Agriculture Virginija Baltraitiene and assured that Lithuanian products are highly valued. Thus, it is in the interest of the two countries to work together on opening the US market to Lithuania, reports LETA/ELTA.
The Government of Lithuania approved the action plan for 2014-2015 which was prepared by the Ministry of Economy. The action plan is aimed to diversify Lithuania's export and reduce Lithuanian companies' losses due to sanctions imposed by the Russian Government, reports LETA/ELTA.
The Ministry of Agriculture continues the active search of new markets for Lithuanian agricultural products. Lebanon and Serbia have opened their doors to Lithuanian meet, fisheries and dairy products, reports LETA/ELTA.