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Sunday 28.05.2017 | Name days: Vilhelms, Vilis

Opinions: Baltic businessmen should consider closer cooperation

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUInstead of creating internal competition, Baltic businessmen should consider cooperating more in order to conquer large export markets, ensure involvement of all three countries and securing sufficient production output, Latvian businessmen active in Estonia say.

Ruta Grikmane, representative of Latvian Chamber for Commerce and Industry, told BNN that the meeting was held during a conference of Estonia’s LCCI. The goal of the conference is increasing mutual information exchange.

«If we look at each country separately, we notice that we are a small and uninteresting market for investors. We are also unable to offer sufficient volumes for exports. If we manage to cooperate, the entire Baltic region will benefit. It will also help exports to develop,» – says LCCI representative in Estonia Kaspars Pacevics.

Maits Palts, head of the Estonian Chamber for Commerce and Industry, said it is too often each country’s uniqueness is emphasized. Agreement on cooperation would considerably assist with export development. As an example, he mentioned the organization of the EXPO in the United Arab Emirates, which will take place in several years. It is possible to attract more attention by presenting Baltic States as a whole there than presenting them separately.

«Latvia, Estonia and Lithuania are still able to compete within the European Union. However, once we start thinking about larger and far-away markets, our competitiveness tends to shrink. This is why cooperation is vital,» – explains Palts.

Grikmane told BNN that businessmen and those present at the meeting said one of the present problems is the realization of different inter-governmental projects, which often require political support. Baltic Way construction and the topical Rail Baltica project were mentioned as examples.

Business representatives believe that realization of joint projects can help increase the region’s competitiveness and economic activity.

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