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Filips Klavins, Managing Partner at Ellex Klavins
„A typical Latvian exporter is not a mass producer, but the one who provides great quality at a flexible price. The Latvian exporter should be focused, competitive and productive to be able to offer high value products, which will lead to higher profits and wages," he said.
The future of Latvijas Balzams is based on three main principles:
1) to continue to grow in the markets that are giving highest returns, including the US, China and the UK;
2) to tell a good story about unique products and heritage;
3) to unlock sales potential to be able to push the product in the market.
Aboltins explained that market capacity in Latvia is limited, and although they hold 34% of local market share, Latvijas Balzams should more actively pursue export opportunities outside the Latvian market. From his perspective, Russia is of particular significance.
Guntis Aboltins is optimistic about Latvia's further success. "There are many things we can be proud of. We are much more hungry for success which builds our competitive advantage," told Aboltins.
Today is the key moment to demonstrate the values we share with AmCham and support like-minded businesses
Jekaterina Novicka, Partner of Business Development, Orients Audit & Finance