Ambassador Teikmanis: A historic year in Latvian-U.S. economic relations

27.10.2017. 23:19

The largest Latvian-U.S. business conference Spotlight Latvia took place on October 26 in Chicago. The event was attended by more than 40 Latvian business representatives.

In his opening remarks, Ambassador Andris Teikmanis emphasized that this has been a historic year in Latvian and U.S. economic cooperation as the U.S. Office of the Investment and Development Agency of Latvia has been reopened. There has also been an increase in Latvian exports to the U.S. and the largest ever Latvian-U.S. business conference has now been organized right before Latvia celebrates its centenary in 2018.

Deputy Prime Minister and Minister of Economics Arvils Ašeradens and Secretary of International Development of the State of Illinois Mark S. Peterson spoke of many directions for pursuing economic relations between both countries. The Director of the Investment and Development Agency of Latvia Andris Ozols presented a sectoral overview for U.S. business opportunities in Latvia.

More than 200 business representatives from Latvia attended the conference and several bilateral meetings with potential U.S. investors were held.

Chairperson of the RB Rail management board Baiba Rubesa was the keynote speaker presenting US companies with opportunities to participate in the procurement for the railway project Rail Baltica.

Near the conclusion of the conference, the Latvian Chamber of Commerce or LatCham was launched. The organization already brings together more than 50 members from both countries. LatCham is an umbrella organization for Latvian business interests in the U.S. LatCham also plans to establish a network of mentors for Latvian businesses interested in the U.S. market. LatCham and AmCham, the American Chamber of Commerce in Latvia, plan to organize seminars together.

Minister of Economics Arvils Ašeradens and Latvian start-up companies continue their U.S. tour by traveling to San Francisco, California.

Spotlight Latvia was organized by the Embassy of Latvia, the American Latvian Association and the Investment and Development Agency of Latvia. The Latvian Honorary Consul in Illinois Roberts Blumbergs contributed greatly to the success of the conference.


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