- 28 March 2019
- Posted by: badamowicz
- Category: Market reports
The economies of the Lithuanian, Latvian and Estonian countries are extremely susceptible to incoming incomes from the European Union, due to high trade rate with EU countries. Despite the fact that the economies of these countries are not large, they create new opportunities for exporters (increase in import and GDP). Taking, for example, Poland, its export to Lithuania, Latvia and Estonia have constantly exceeded the level a of 5.2 billion USD. These markets enjoy currency stability due to the introduced Euro.
Business contacts with Lithuania, Estonia and Latvia are facilitated by the fact that counterparties from these countries use at least two foreign languages, most often Russian and English.
The influence on trade with these countries may also have some political and legal conditions that are worth knowing. A lot of them work in favor of running a successful business. For example, in Lithuania and Estonia, establishing a company with “ltd.” is easily carried out electronically, bureaucracy is limited to the necessary minimum. As for the trade itself, there is a ban on the advertising of tobacco products, and alcohol and financial services are limited in terms of advertising. The same issues apply to Latvia and Estonia, although in the case of the latter, the registration of the company is even faster, because it is possible almost on the same day.
Further part of the content at this link: Export to Lithuania, Latvia and Estonia