Ukrainian companies invested 137 million euros in Latvia
Compared to the period until 2022, Ukraine’s business activity in Latvia has grown two to three times. Ukrainians themselves note that despite the war, business continues to develop. Latvia is being used as a springboard for further expansion into the Baltic States and Europe.
“Now, in the fourth year of the war, the difficult thing is that we don’t know what will happen tomorrow,” – quoted the chairman of the board of the Ukrainian Trade House in Latvia, Oleksandr Petrov, by the Latvian portal bb.lv.
According to the entrepreneur, a few years ago Ukrainian business was not ready for export. It was mainly focused on the domestic market, as it is quite large in Ukraine. In 2021, Ukrainian businessmen began to enter the European market through Latvia. Now there are representative offices of several large enterprises there.
“Companies such as Wiener Kaffee are working here,” Petrov said. – The coffee is already on store shelves, and it has its own fans. We have localized another direction, ketchups and mayonnaises, which are supplied to the Baltic market. Despite the hostilities in Ukraine, business has not stopped. Just this week I signed a contract for the production of house shoes in Odessa. The owner of the factory came and signed an agreement that these products will go to the European market through Riga”.
