On 11 September 2023, the Ministry of Foreign Affairs hosted a seminar for Latvia’s business people, “Learn about Australia’s business environment”, at which representatives from various sectors shared their experience on launching business in Australia.
Marģers Krams, Ambassador of Latvia to Australia, highlighted the increasing activity of Latvian businessmen wishing to start a business in Australia, which plays a key role in the strengthening of political and economic dialogue with Australia and other countries in the India-Pacific region.
Sabīne Kazaka, Head of the Representative Office of the Investment and Development Agency of Latvia (LIAA) in Australia, underlined that Australia was a vast market with diverse opportunities. At the same time, when planning activities in Australia, it is essential to take into account various aspects – climate characteristics, the administrative management, the regulatory framework, certification requirements, logistics solutions, and distinctive traits in personal interaction.
The specific features of the Australian market were outlined, and work experience was shared by Toby Moore, Honorary Consul of Latvia in Australia; Imants Kīns, Chairman of the Board of CiTech; Uģis Hoņavko, Sales Director at AS SAF Tehnika; Matīss Sīviņš, Business Development APAC& USA, Canada, and Zane Krūzenberga, Project Manager at Aerones.
Given its geographical location and the growing dynamics of the country’s economy, Australia is open to cooperation opportunities with Latvian entrepreneurs offering products with high value added in sectors such as energy, agriculture, digital and information technologies, and biomedicine.
The seminar was organised by the Head of the Representative Office of LIAA in Australia, Sabīne Kazaka, in association with the Ministry of Foreign Affairs and the Embassy of Latvia in Australia. The Ministry of Foreign Affairs thanked LIAA and its Representative Office in Australia, other guests, and the Latvian entrepreneurs for a successful running of the event.
Background information
The European Union is Australia’s third largest trading partner, and the trade volume between Australia and Latvia also tends to grow. The largest groups of Latvian export goods to Australia are wood and its products, machinery, mechanical appliances and electrical equipment, as well as various mineral products. With the conclusion of the EU-Australia Economic Partnership Agreement, mutual trade is only expected to increase.
