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Monday 25.06.2018 | Name days: Maiga, Milija
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Euro introduction not to hinder Latvian and Estonian business cooperation

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The euro introduction in Estonia as of January 1, 2011 has not hindered the existing cooperation and settlement of accounts with the Estonian business partners, indicates the Latvian entrepreneurs.

Rīgas miesnieks has always settled accounts with the Estonian partners and affiliated companies in the euro currency and the euro introduction on January 1 did not affect its business activities, informs the meat processing company Rīgas miesnieks Board Chairman Juhan Matt.

Describing the overall situation, I predict that Estonia’s transition to the euro will have a positive impact on both countries’ business cooperation, because instead of former three currencies – the Estonian kroon, the lat and the euro – only two currencies will be used in account settlement, emphasizes Rīgas miesnieks Chairman.

Dana Erciņa, the sales and marketing director at the fruit and vegetable processing company SIA Spilva, also points out that the euro introduction does not change anything in Spilva’s cooperation with its Estonian partners, because up till now the company made settlements in the euro currency.

AS Cēsu alus representative Agita Baltbārde also asserts that the euro introduction in Estonia did not create any difficulties for the company. Already in previous years all transactions with the Estonian companies – raw material suppliers – were conducted in the euro currency. Therefore, no changes in cooperation and joint account settlements took place due to Estonia’s shift to the euro, and are not expected in the future either.

SIA Rimi Latvia marketing and public relations manager Zane Eniņa confirms that in terms of Estonia’s accession to the eurozone Rimi account settlement system with the Estonian suppliers did not experience any changes.

The settlements were previously carried out in the euro. Several popular Estonian products are available at Rimi stores, which are imported from this neighbouring country, such as the cottage cheese Ricotta, ice cream Balbiino, yoghurt Valio, as well as clothing and textiles made in Estonia, indicates Rimi Latvia representative.


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