Baltic, Good for Business, Investments, Latvia, Port, Transport

Ameriks is very pleased with the achievement, as Estonian ports are currently seeing a reduction by one-quarter in their cargo turnover volumes. Problems are also present at Lithuania's Klaipeda Port.

Riga Port's successful results can be attributed to investments in infrastructure, believes Ameriks, adding that, for example, the new ship terminal project at Krievu Island is currently progressing at an excellent pace.

The port is only partially affected by Russia's sanctions – Russia's ban on food imports has a smaller impact, yet there is a noticeable fall in container cargo turnover. Ameriks stressed though that the port "cannot influence geopolitics", and there is a possibility that cargo turnover could decline. Specific political decisions could "solve the problem," said Ameriks.

According to Ameriks, the government and Transport Ministry are putting in a lot of effort to compensate for the falling turnover with business deals from China – freight transport and investments. However, it is important to take into account that these cargoes still pass through Russia, he added.