Baltic States – CIS, Cooperation, Good for Business, Latvia, Markets and Companies, Port, Russia, Transport

"Latvian logistics companies are interested in expanding cooperation with Tatarstan in view of its growing oil production and industrial development. Also, Tatar companies can open production plants in Latvia to export their products to the EU markets," Aseradens said.

He said that a presentation about Tatarstan's development he had seen today had been inspiring and suggested vast opportunities for cooperation in finances, education, tourism, textile industry etc.

Tatarstan's serious intentions regarding cooperation with Latvia are confirmed by the fact that the president of Tatarstan had come to Latvia, the economic minister said.

Minnikhanov said that both countries could cooperate not only in trade and logistics but also in other sectors. Gaining access to the EU market from Russia is not easy therefore Tatar businesses might consider opening a company in Latvia, he said.

Speaking about his visit to Riga port, the president of Tatarstan said it was a modern port. Tatar companies already use Riga port to export oil products to other countries, and the port will remain attractive also in the future despite Russia's intention to divert its cargos away from Latvian ports, he said.

Tatar exports already go through Latvian ports and there are no problems that could stand in the way of further cooperation, Minnikhanov said. Oil production in Tatarstan keeps growing and oil has to be transported somewhere, mostly to the EU member states. Riga port offers attractive prices therefore we are interested in further cooperation with Latvian ports, the president of Tatarstan said.

Latvian Transport Minister Uldis Augulis  during the meeting with Minnikhanov said that Latvian ports were well-equipped and therefore well-suited for handling exports of such Tatar goods as oil and oil products, chemicals, rubber and plastic products, metals, machinery and agricultural products.

He suggested that Tatar companies might be interesting in investments in Latvia to create logistics and distribution centers and production plants in Latvian freeports and special economic zones.

"Latvia can offer several important advantages that potential investors might find interesting. For example, tax discounts at special economic zones and freeports, delivery of goods to customers in the Baltic region within 24 hours and in Scandinavia in 48 hours," the Latvian transport minister said.

Answering a question about whether his visit to Riga could be seen as a signal of stabilization in Latvian-Russian relations, Minnikhanov said that political matters were being handled on the federal level while business people were sending signals that bilateral cooperation held economic gains. This is why we came to Latvia; we want both countries to have good relations so that we could cooperate on the regional level. The president of Tatarstan said.