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Latvian forestry products have very high potential for exports, said Persson. Latvia should try to follow Sweden's example, which is also a "green" country with forests covering 75 percent of the country's territory, and that has very successful wood exports, he said. "Exports form the basis of small countries' success stories, and forest industry is a sector that has the best prospects in this regard," said Persson.

Besides forestry, healthcare, chemical industry, textiles and food industry also have high export potential in Latvia, said Persson.

He also said that wood exports would further increase in the future as a result of Latvia's accession to the eurozone.

Even if the euro is not perfect at the moment, it still is something to be reckoned with. The euro is absolutely necessary for Latvia's exports, and joining the eurozone will definitely foster not only the development of export, but the entire national economy, said Persson.