Golden Helmet presented to Coca-Cola

Coca-Cola HBC Latvia received an acknowledgement for the company's practice in reducing risks in the workplace "Golden Helmet" and received a recognition in the annual Swedish Business Award 2015.

The President of Latvia becomes the Patron of Human Develoment Award

President of Latvia, HE Raimonds Vējonis has become the Patron of the Human Development Award in Latvia 2016. According to the President, "The Human Development Award covers many relevant long-term development areas for Latvia, while each nomination highlights significant work to the benefit of community by a person, company, or organization". The purpose of the Human Development Award is to promote human development, prosperity, and the well-being of Latvia's people. Nominations will be accepted in 4 categories: Social Responsibility, Outstanding Commitment to Education, Exemplary Contribution to Health and Well-Being and the Future of Latvia.

Nordea in Baltics earns EUR 76 mln

Nordea Baltic division reported operating profit of EUR 76 million in the first three quarters of 2015. Total income increased by 12% reaching EUR 144 million of which net commission income is amounted to EUR 21 million, increasing by 17% compared to the respective period of year 2014.

11th TTIP negotiation round brings progress

From October 19-23 the 11th round of TTIP negotiations took place in Miami, Florida focusing on three pillars: market access, regulatory cooperation and trade rules. The goal of the agreement is to slash trade taxes and facilitate trade between the two blocks with an aim to boost economic growth, create more job opportunities and modernise rules governing global trade.

Welcome 2 new members

Bikkel Group and TaikaTranslations LLC have joined the Chamber this month. Welcome to the AmCham community!

Transatlantic Trade and Investment Partnership (TTIP) is expected to make doing business between the EU and US easier. SMEs especially have much to gain as a result of TTIP as it will address many of the barriers they currently face by reducing regulatory obstacles, export costs and red tape on customs procedures. AmCham hosted a breakfast discussion featuring Deputy Assistant US Trade Representative for Small Business, Christina Sevilla and the Chair of the Saeima Foreign Relations Committee, Ambassador Ojars Kalnins, to discuss the impact and benefits of TTIP.

Insolvency Law doesn't meet its goal, say 70% respondents

187 respondents, members of the American, Latvian, Norwegian Chambers of Commerce and Foreign Investors Council in Latvia, participated in an indicative survey about the credibility of the insolvency system. 85% admitted that interpretation and application of the law is not predictable and consistent. 70% thought the Insolvency Law doesn't meet its ultimate goal to promote the fulfillment of the obligations in financial difficulties and to renew solvency when possible. Respondents also said that while the legislative framework works well, enforcement remains among the main challenges.

Experts, decision makers and business representatives met to discuss the insolvency process and its impact on Latvia’s business and investment climate. A broad coalition of organizations – the American and Norwegian Chambers of Commerce in Latvia, FICIL and the Latvian Chamber of Commerce and Industry – gathered to reinforce the necessity to continue reforming Latvia’s insolvency system in order to provide confidence and security for both foreign and local investments. Video and presentations are available.