News
 
TTIP: easing access to the US market

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.

 
 
Success begets success

At her first address to AmCham members, Ambassador Pettit spoke about her top priorities among which is promoting entrepreneurship and raising awareness of TTIP. She said: “Success begets success: good ideas draw attention and can catalyze even greater trade and investment. Entrepreneurs can be an important force for economic development, and they deserve our recognition and support.”

 
 
Isn’t €1Bn a year too high a cost for malfunctioning insolvency process?

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.

 
 
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.

 
 
AmChams in Europe meet for annual best practices conference in Milan

The Annual AmChams in Europe best practices conference took place last month in Milan, Italy. The conference was attended by representatives of 27 AmChams across Europe with an aim to share best practices about topics including advocacy, membership, business support and the US participation in Expo Milano 2015. Participants had the opportunity to meet the Consul General of the US in Milan, Commissioner General of the USA Pavilion and the leaders of the City of Milan.

 
 
Welcome 2 new members

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

 
 
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.

 
 
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.

 
 
TehnoBuss Latvia explored during the Career Week

JSC Valmieras stikla šķiedra offered students of surrounding schools in Valmiera a unique opportunity to attend a traveling educational laboratory "TehnoBuss Latvia" equipped with modern production facilities where specially trained instructors introduce students with robotics and automation equipment, multimedia systems, CNC metal processing machine tool and informative database of professions vacancies and study opportunities.

 
 
Citadele bank shares will be bought by foreign investors

Citadele will sell new Class B shares listed at Nasdaq Riga stock exchange together with global depository receipts that will represent the shares at the London Stock Exchange.

 
 
People
 
TTIP: easing access to the US market

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.

 
 
Success begets success

At her first address to AmCham members, Ambassador Pettit spoke about her top priorities among which is promoting entrepreneurship and raising awareness of TTIP. She said: “Success begets success: good ideas draw attention and can catalyze even greater trade and investment. Entrepreneurs can be an important force for economic development, and they deserve our recognition and support.”

 
 
Isn’t €1Bn a year too high a cost for malfunctioning insolvency process?

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.

 
 
Tips how to find your dream job

Diatom shares 5 tips that would help to succeed at the Riga Comm It Fair as an Exhibitor. IT Fair is happening already this week and it is literally the last chance to make sure you are ready to fish for a new job opportunity.

 
 
     
 

October 2015

 
     
 

Welcome to the October Newsletter! This month we welcomed the new US Ambassador to Latvia. We discussed the insolvency process and its impact on Latvia’s business climate with a broad coalition of organizations. We also hosted the discussion on TTIP, specifically what it will mean for small and medium sized enterprises. Please give us your feedback on AmCham programs by taking this Member Survey short survey!

 
     
     
 

Upcoming events

 
     

Nov 03, 2015 - Nov 04, 2015

Amcham’s Launchpad USA Venture Summit in Partnership with NY Angels

from 09:00 till 22:00

 
     

Nov 05, 2015

Increasing economic competitiveness among government's top priorities

from 11:30 till 14:00

 
     

Nov 05, 2015

On a mission with 007

from 18:00 till 21:00

 
     

Nov 07, 2015

Money goes where talent grows

from 09:00 till 17:00

 
     

Nov 13, 2015

Chambers and FICIL discuss the investment climate

from 12:30 till 15:00

 
     

Dec 02, 2015

Spreading holiday cheer to those who need it most

from 18:30 till 21:00

 
     

Dec 10, 2015

A sparkling new production of Die Fledermaus

from 18:00 till 22:00

 
     
 

Special Offers

 
     
 

Print out discount coupons!

 
     
 

Read more about discount offers!

 
     
 

Attend our member events!

 
     
 

OnlineExpo portal launch, November 3

 
     
 

Special offer for business lunch at Zoste

 
     
 

10% discount at Restaurant Zoste

 
     
 

15-25% discount on business souvenirs

 
     
 

10% discount on Art Nouveau Souvenirs

 
     
 

EMBA & BBA Open Day at Riga Business School

 
     
 

15% discount on Antivirus software

 
     
 

Translation services with 25% discount

 
     
 

25% discount on setting up licensable financial structures

 
     
 

Bloody Good Halloween Party

 
     
 
 
 
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