Gateway to the Baltics
Why Invest or Do Business in the Baltic states?
The Baltic states are the EU’s fastest growing economies. The European Commission forecasts 3-4% in real GDP growth in 2014-15 for Latvia and Lithuania, with Estonia set to return to that rate in 2015.
The Baltics are composed of three modern independent countries that have their own unique languages – Estonian, Latvian and Lithuanian - and share at recent history in the 20th and 21st centuries.
With their unique location on the shores of the Baltic Sea the countries have highly advanced ice free ports and all three play an important part in the busy trading route between the East and West. Together with Finland and Poland, these countries form the eastern border of the EU with Russia, Belarus and Ukraine.
The Baltics offer a progressive, western-oriented business environment with a well-educated multilingual workforce, a simple and favorable tax system and an efficient business infrastructure. The region represents a market of 7 million people and its attractiveness is demonstrated by the presence of a large number of world-renowned foreign investors from a variety of sectors. Many other Dutch investors have also found their way there, with the Netherlands in the top 5 of largest foreign investors in the region after Sweden and Finland. Mutual trade between the Netherlands and Baltics amounts to €4 billion per year (2013).
All three countries have very open economies and the volume of goods and services exported exceeds 95% of GDP. Because of an abundance of natural resources traditional types of craftsmanship, such as woodworking, metalworking and technical manufacturing are well developed in the region. The transport and logistics sectors also contribute significantly to GDP. In addition, modern branches of the economy such as customer support centers, electronics, mechanical engineering, small-craft building, modern food production, energy, water and creative industry can be identified as sectors with major potential.
In the Baltics the Netherlands is represented by embassies in all three capitals. Our embassies in Vilnius, Riga and Tallinn each have their own international trade specialists who have a wide network, speak the local language, know the market and are willing to help you find your way in this dynamic part of Europe. The Baltic states deserve your attention!
|GDP||EUR 18.5 billion||EUR 23.3 billion||EUR 34.5 billion|