Latvia and China have further improved their trade relationships after China confirmed that is will receive Latvian exports like dairy and fish. The talks for a better cooperation between Latvia and China were held in the larger context of the EU-China partnership and the importance of strengthening bilateral cooperation in areas like economics, politics, culture and education.
More opportunities for Latvian companies to export to China
During their most recent meeting, Latvian Foreign Minister and Chinese Ambassador in Latvia highlighted the importance of a closer cooperation, not only in the economic sector but also in areas like culture and education.
The most recent example of cooperation is the certification received for Latvian food products, issued by China. This is very important for Latvian food manufacturers who now have access to the large and promising Chinese market. Two of the most important types of products that will be exported from Latvia to China are fish and dairy products.
The Latvian official also stated that his country plans on becoming more involved in other important investment sectors in China, like transport and logistics. Another area where the two countries are cooperating includes culture, through the Bachelor of Arts program taught in Latvian at the Beijing International Studies University.
The Latvia-China business and economic relations
The double tax treaty
which is in force between Latvia and China further aids the economic and business relations between the two countries. Foreign investors from one country to the other benefit from reduced tax rates with the help of this important treaty.
Chinese investors in Latvia
benefit from the country’s good prospects for growth and business friendly environment. The Latvian Government encourages foreign investments
through special incentives for certain key investment sectors including food processing, machinery or textiles.
If you are interested in knowing more about foreign investments in Latvia you can contact our law firm in Latvia
. Our experts are ready to answer your questions regarding company formation or the legislation for investments.