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Ukraine - Latvia trade and economic cooperation
15 August 2012 22:57

The trade and economic cooperation between Ukraine and Latvia is one of the fundamental pillars of the bilateral relationships. Over the first nine months of 2019, the Ukrainian bilateral trade with Latvia totalled over USD 417 million (over the same period of 2018 – USD 409 million).

Pursuant to the results of export-import operations during the particular period, the trade and economic relations between Ukraine and Latvia performed with a growth rate of 1.9%.

Accordingly, over the indicated period the total volume of export of goods and services decreased by 4% to USD 263 million (2018 – USD 275 million). Import grew by 14% towards USD 153 million (2018 – USD 134 million). The balance is positive – USD 110 million.

Particularly, the volume of trade in goods grew by 5% to USD 347.3 million (2018 – USD 331 million): exports expanded by 2% to USD 229 million, imports increased by 10% to USD 119 million. The balance is positive – USD 110 million. Across service sectors, the trade performance fell 11% to USD 70 million (2018 – USD 78 million): exports – USD 34.7 million (narrowed by 34%), imports – USD 34.9 million (increased by 27%). The balance is negative – minus USD 0.2 million (actually, the services trade operated with a zero balance).

Further to the results covering a period of January – November 2019, trade in goods has continued gradually increasing with delivering a growth rate over 2.2% totalling around 420 million (2018 – USD 410 million).

It is worth noting that during the retrospective period the relevant figures also showed an advancement of two-way exports and imports. Thus, in 2018 the trade turnover between Ukraine and Latvia amounted to USD 549.7 million. The bilateral trade reflected an increase by 18.5%% over the indicated period.

As at the end of 2019, the volume of direct investments from Latvia to Ukraine has edged up slightly higher to USD 43.2 million (increasing at a 0.5% rate – USD 0.2 million). The volume of Ukraine’s investments into Latvia has tumbled to USD 69.5 million (with dropping 4% – minus USD 3 million).

As of January 2020, 1219 enterprises with Ukrainian investments are registered in Latvia. The main focus of investments centres upon financial and real estate businesses.

On the whole, the noted figures indicate the projected positive outlook for Ukraine – Latvia trade relations. The value of the bilateral commercial exchange might continue growing steadily over the coming periods upon the footing of the exiting upward trend in the sectoral cooperation in follow up of the 7th Session of Ukraine – Latvia Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation (IGC), held in Riga on May 16 – 17, 2019. The 8th IGC Session is to be hosted in Kyiv in 2020.

 

Within the context of development of trade and economic cooperation at the interregional level, we would like to introduce you information resources of the Chambers of commerce and Industry of Ukraine 


Chernihiv Chamber of Commerce and Industry

Public organization which mission is to promote entrepreneurship and economic growth of Chernihiv region

Dnipropetrovsk Chamber of Commerce and Industry

Association of enterprises, organizations, firms of different ownership type, promotes the arrangement of business co-operation, thus participating in formation of multi-sided economy of our region, strengthening of its authority.

Donetsk Chamber of Commerce and Industry

Improving of Donetsk Chamber of Commerce and Industry member competitiveness. Provision of services to businessmen in their activities in domestic and foreign markets. Supporting of principles of an open economy.

International Chamber of Commerce (ICC) Ukraine

Promoting foreign economic activities through the partnership network in 93 countries, convening trade missions and business consultations, rendering informational and analytical support.

International Marketing Initiative Association (SMIA)

The official public organisation in the sector of marketing services in Ukraine, which unites the main company representatives who work in non-ATL industry into a marketing community, participating in development of marketing communications in Ukraine. International Association of Marketing Initiatives (IAMI) is founded to push marketing and advertisement services to the level of the most attractive and the most respectable segment of marketing services industry in Ukraine, ensure that the key role of marketing services and its contribution to brand equity are accepted within the general marketing process.

Kherson Chamber of Commerce and Industry

We provide comprehensive support to entrepreneurs who want to establish and develop mutually beneficial economic relations with foreign countries, learning new forms of cooperation and expanding of business boundaries. Kherson district - the southern region of Ukraine. Specific geographical situation in the region downstream of the Dnieper, the transport routes, including access to two seas - the Black and Azov, combined with favorable weather conditions and a wonderful human potential provides great opportunities for the development of economic and trade connections and profitable cooperation in the field of investment.

Khmelnytskyi Chamber of Commerce and Industry

Khmelnytskyi Chamber of Commerce and Industry is an important component of the region's integration into the world's economy. The main Chamber's task is to create favorable conditions for domestic companies, to represent and protect their interests at all levels, to promote direct connection with foreign partners in economics, science and trade sector, investor search and qualified investment project preparation.

Kiev Chamber of Commerce and Industry

The target of the operation of the Kyiv Chamber of Commerce and Industry is the economy development promotion and creation of favourable conditions for business activities in the Kyiv region. The Chamber represents its members in matters connected with their business activities both in and outside Ukraine, promotes the development of market relations in its region, business activities in all their forms, export of Ukrainian goods. It gives consultations on trade transactions on the domestic and foreign markets, development of new cooperation forms, organises collaboration between business entities, coordinates their relations with the State represented by its bodies and also with potential partners.

Kirovohrad Chamber of Commerce and Industry

Our primary goal - to promote the development of national economy, to improve relationships between businessmen, strengthen industrial, scientifically technical and trade connections to effectively assist our region business and to take meaningful steps towards integration into the international economic community. Chamber of Commerce and Industry's authority, a wide range of services and high professionalism of employees is recognized and respected within regional business community.

Lviv Chamber of Commerce and Industry

Seeking information about companies within and beyond Ukraine, providing information on the international trade regime in Ukraine and other countries.

Nikolayevsk Chamber of Commerce and Industry

Non-government non-profit self-governing organisation incorporating on a voluntary basis legal entities and Ukrainian citizens registered as entrepreneurs as well as their associations.

Odessa Regional Chamber of Commerce and Industry (ORTRP)

Odessa Regional Chamber of Commerce and Industry signed agreements with 37 foreign Chambers of Commerce and Industry, which allows to receive operational information on enterprise operation in foreign countries, exchange with commercial offers, expand economic contacts with foreign countries. Odessa Regional Chamber of Commerce and Industry structure includes Iljicheva, Izmaila and Renia companies, as well as Belgorod-dnestrovska group.

Rovensky Chamber of Commerce and Industry

The possibilities of the Chamber are realising in the way of constant dialogue with the business circles, authorities, where the actual problems are discussing and constructive decisions are taken

Sevastopolskaya Chamber of Commerce and Industry

In Sevastopol Chamber of Commerce and Industry structure operates international cooperation department whose primary responsibility is business support in international cooperation matters, local business sales market expansion in Ukraine and abroad, as well as new business project development. Department specialists have professional knowledge and extensive experience in their professional activity field, they work closely with foreign partners, using in their work the world's best business practice.

Sumy Chamber of Commerce and Industry

Sumas Chamber of Commerce and Indistry is the center of advanced market relationship idea development and stabilization in the district. It has become reliable ally and supporter of region's entrepreneurs . Chamber's activities are gaining new vigor, has increased and continues to increase its authority in this region, in Ukraine and in the world, which allows to look in the future with optimism and confidence and set more ambitious goals.

Ukraine Business Resource

Ukrainian Business Resource - it is business video news, which includes economic events in Ukraine and information about the exact state of the financial markets, exchange rates, indices and rates.

Ukraine Marketing Association

All-Ukrainian public organization, founded by professional features whose aim is not profit-making. UMA members at their work hold on Marketing Research quality standards UMA-СОУ 91.12.0-21708654-001-2002, ESOMAR guidelines and directives.

Volinska Chamber of Commerce and Industry

Commerce and industry chambers was created to promote the national economy, its integration into the global economics system, formation of modern industrial, financial and trade infrastructure, an enabling business environment, comprehensive development of all types of business not prohibited by the laws of Ukraine, scientific technical and trade ties between Ukrainian businessmen and entrepreneurs in foreign countries.

Zaporizhia Chamber of Commerce and Industry

Centre of economic development of Zaporozhye region, regulation of international relations, introduction of innovations, attraction of investment, protection of business interests of the region.

Zhytomyr Chamber of Commerce and Industry

legitimate interests.

EEN-UKRAINE – the Ukraine-based contact points of the Enterprise Europe Network operating under the European Union's programme for the competitiveness of SMEs (COSME) 2014 – 2020:

UKRAINIAN CHAMBER OF COMMERCE AND INDUSTRY

The Ukrainian Chamber of Commerce and Industry (CCI) is a non-government and non-profit self-governing organisation incorporating on a voluntary basis legal entities and Ukrainian citizens registered as entrepreneurs as well as their associations. Nearly 10,000 enterprises and companies of different forms of property are now members of the Ukrainian Chamber of Commerce and Industry. The main objective of the CCI is creating favourable conditions for the entrepreneurial activity, assisting all-round development of scientific, technological and trade relations between Ukrainian economic operators and their foreign partners, representing economic concerns of the chamber members in Ukraine and overseas:

https://een.ec.europa.eu/about/branches/ua00558

Address

VELYKA ZHYTOMYRSKA ST 33

01601

KYIV

UKRAINE

ucci@ucci.org.ua

+38 044 586 40 67

+38 044 584 28 24

+38 044 584 28 36

http://www.ucci.org.ua

MINISTRY OF ECONOMIC DEVELOPMENT AND TRADE OF UKRAINE

The Ministry of Economy (MEDT) is a leading agency within the system of Ukraine’s government agencies and institutions, responsible for implementation of the uniform government policy of national and regional economic and social development and cooperation with the European Union. Among other actions, MEDT aims to facilitate local executive agencies and local self-governing agencies in arranging relations and ties with the European regional organizations and their participation in the European regional programs, engagement of Ukrainian enterprises, institutions and organizations in the participation of branch programs of the EU:

https://een.ec.europa.eu/about/branches/ua00847

Address

HRUSHEVSKOHO ST 12/2

01008

KYIV

UKRAINE

een@me.gov.ua

cosme@me.gov.ua

+38 044 596 68 53

+38 050 737 07 24

http://me.gov.ua/

http://cosme.me.gov.ua/

MINISTRY OF FOREIGN AFFAIRS OF UKRAINE

The Ministry of Foreign Affairs of Ukraine (MFA), namely its structural department – Mission of Ukraine to the EU (MUEU-MFA) – is a permanent diplomatic representation of Ukraine to the European Union. MUEU-MFA is a public body responsible for the development of Ukraine – EU bilateral relations in all important spheres. Having the promotion of trade and economic cooperation among its top priorities the Mission has vast experience in delivering the related services to different stakeholders. MUEU-MFA is constantly involved in a number of Ukraine-EU dialogues, namely in the fields of trade and investments, regulatory framework, SME policy, research and innovations, etc.:

https://een.ec.europa.eu/about/branches/ua00846

Address

MYKHAILIVSKA SQUARE 1

01018

KYIV

UKRAINE

tem_eu@mfa.gov.ua

+3223495190

INSTITUTE OF PHYSICS OF NATIONAL ACADEMY OF SCIENCE OF UKRAINE

The Institute of Physics (IOP) being represented in the Consortium by its Technology Transfer (TT) Department (TT-IOP) is a non-profit state organization headquartered in Kyiv. The Institute maintains a fruitful cooperation with R&D institutions worldwide. TT-IOP experts who are mainly involved in the EEN activities have experience in managing different national projects and programs aimed at stimulating technology adoption in SMEs, organization of company missions, international technology meetings, summer schools, international conferences; creation of different websites etc.:

https://een.ec.europa.eu/about/branches/ua00352

Address

NAUKI AVE 46

03680

KYIV

UKRAINE

een.network.ukraine@gmail.com

+ 38 044 525 98 41

http://www.iop.kiev.ua

TARAS SHEVCHENKO NATIONAL UNIVERSITY OF KYIV

Taras Shevchenko National University of Kyiv is today a classic university with a distinct research profile, and the leading contemporary academic and educational hub of Ukraine. The high status of a classical research University is underpinned by the numerous academic achievements. There are 13 Faculties within the University, inter alia, Cybernetics, Mathematics and Mechanics, Information Technology, Radio Physics, Electronics and Computer Systems, Physics, Chemistry and others. Kyiv University has a number of other facilities such as the High Technology Centre, the Institute of Geology, the Institute of Biology, Optical and Mechanical College, Geological Exploring College, Physical and Mathematical Lyceum. The University has bilateral partnership agreements with 227 foreign educational and scientific institutions from 57 countries:

https://een.ec.europa.eu/about/branches/ua00524

Address

VOLODYMYRSKA ST 60

01033

KYIV

UKRAINE

depndch@univ.kiev.ua

+38-044 521 35 41

http://www.univ.kiev.ua

DNIPROPETROVSK REGIONAL PUBLIC ORGANIZATION “DNIPRO ASSOCIATION “SPOZHYVACH

Association “Spozhyvach” is a non-government organization that unites businesses representing different branches of Ukrainian industry (agriculture, food, energy, machine building, construction, ICT). The first priority for Association is to contribute to the sustainable growth of its members by means of internationalization. Association has accumulated experience in facilitation of cross-border partnerships:

https://een.ec.europa.eu/about/branches/ua00855

Address

NADII ALEKSEENKO ST 74

49006

DNIPRO

UKRAINE

info@spozhyvach.org.ua

+380973893553

www.spozhyvach.org.ua

 

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