On 8 February 2023, the Ministry of Foreign Affairs hosted a seminar for Latvia’s business people, “Learn about Australia’s business environment”, which made it possible for representatives from various sectors – information and communication technologies, high-tech, pharmaceuticals, cosmetics, logistics and others – to explore business opportunities in the Australian market.
The Director of the Foreign Trade and External Economic Relations Promotion Department at the Ministry of Foreign Affairs, Ģirts Jaunzems, welcomed the opening of a Latvian Embassy in Canberra, which has a major role to play in the strengthening of a political and economic dialogue with Australia and other countries in the Indo-Pacific region.
“We are certain that the opening of a LIAA representation in Australia would intensify economic cooperation. The Foreign Service is prepared to cooperate and support businesses to promote export and investments. We hope that negotiations with Australia on a Free Trade Agreement will be finalised soon, which is to reduce tariffs and the administrative burden, thereby facilitating access to the Australian market and diversifying our supply chains. It is important to analyse the exporters’ experience as they encounter trade barriers in third country markets, so that we could seek the best solution if needed,” Ģirts Jaunzems pointed out.
The Deputy Director in charge of export at LIAA, Iveta Strupkāja, underlined that Latvia was the first among the Baltic States that had its economic representation office in Australia.
The Ambassador of Latvia to Australia, Marģers Krams, addressed the participants via remote connection. He highlighted Australia as an important partner and a vast market with diverse opportunities for Latvian companies. In view of Latvia being a member of the European Union, the OECD and NATO, we can offer safe services and products, the Ambassador noted.
The Ambassador of Australia to Latvia, Bernard Joseph Philip, resident in Sweden, also participated in the event remotely, and he underlined the importance of the opening of a Latvian Embassy in Australia. The Ambassador noted that Latvia and Australia were like-minded partners. Australia is aware of the importance of cooperation with the EU and completion of negotiations on a Free Trade Agreement. In the current geopolitical situation and in relation to the war in Ukraine, security matters are essential. The Australian market, in view of its geographical location, offers vast opportunities for Latvian companies to also gain access to other markets in the countries such as Japan, South Korea, Indonesia, and Philippines. There is potential for cooperation in the energy sector, agriculture, digital and cyber-security. The Latvian diaspora is providing noteworthy contribution to the Australian economy.
The participants were addressed remotely by the Latvian Honorary Consuls in Australia, Mārtiņš Tuktēns and Valdis Tomanis. The Honorary Consul of Australia in Latvia, Toby Moore, mentioned several positive features of the Australian market: it is a business-friendly, vast market with 25 million people; the region also comprises New Zealand with 5 million people and Indonesia with its population of 250 million. Key sectors are energy, agriculture, defence and security, medicine and health care, financial services, as well as the space and digital sectors.
The Sales Manager at SIA Sonora RW, Artūrs Žaka, and the Sales Director at AS SAF Tehnika, Uģis Honavko, shared their experience of operation in the Australian market.
Also taking part in the seminar were the Chief Executive Officer of the European Australian Business Council, Jason Collins, a representative from the European Commission, Kevin Keary, and the Australian trade representative in the Baltic States, Živilė Kriščiūnė.
The seminar was organised by the Investment and Development Agency of Latvia, LIAA, and its representative office in Australia 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.