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Latvia may become the New Silk Road

Sep 25, 2012

AmCham hosted a luncheon to welcome the new Ambassador of the US Mark Pekala on September 25.

Among his top priorities Ambassador mentioned strengthening the US-Latvian business relationship, fostering commercial ties, increasing trade and expanding US investments in Latvia and the Baltic region.

According to Ambassador Pekala the areas of potential growth for Latvia include information technology, transportation and logistics, renewable energy and other more traditional sectors such as woodworking. The US Ambassador stressed the key role of Latvia in becoming the New Silk Road connecting Central and South Asia to the global market through Latvia.

„AmCham has been a tireless advocate for good corporate practices and transparency in government and this advocacy must continue, and US capital will respond to greater transparency,” he said. He emphasized that American investors are looking for predictability, transparency and even playing field: “The American investors expect to have predictable, transparent and fair dealings in the country. They want to compete on a level playing field with local investors”.

According to Ambassador, another way to boost Latvia’s competitiveness is to continue to champion better protection of intellectual property, a win-win policy for the United States and Latvia.

Media coverage:

Leta article on September 25, 2012 (in Latvian)
Dienas Bizness article on September 25, 2012 (in Latvian)

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