Latvia, officially the Republic of Latvia, is located in the center of the Baltic States (Estonia, Latvia and Lithuania). Its capital city Riga is a former Hanseatic League member and is famous for the Art Nouveau architects. Latvia lies in the Northern Europe and shares its borders with Sweden, Estonia, Russia, Belarus, and Lithuania. With its strategic geographic location, Latvia is an optimal location for business operations targeting both Western and Northern European markets and emerging markets in Eastern Europe.
As one of the important European countries, Latvia joined WTO in 1999, became a member of European Union and NATO in 2004, and adopted Euro as its official currency in the beginning of 2014.
As the current fastest growing economy in Europe, Latvia is becoming more and more attractive to be a base for investors to do business in Europe. According to The World Bank, Latvia was ranked as the 24 th easiest of doing business and the 3 rd easiest of getting credits among the 189 countries ( www.doingbusiness.org/rankings ). Based on International Monetary Fund’s estimation, Latvia’s GDP ( PPP) of 2014 will be 41 billion US dollars; its GDP (PPP) per capital will be 20,204 US dollars, its nominal GDP will be 33.7 billion US dollars; its nominal GDP per capital will be 16,620 US dollars. ( www.imf.org )
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