Latvia’s Economy Minister Viktors Valainis met with representatives of the Latvian Stevedoring Companies Association on the 10th of June to discuss key challenges facing the port sector, opportunities for attracting investment, port governance reform, the competitiveness of Latvia’s transit corridor, and support instruments for business development, the Ministry of Economics told BNN.
The discussions focused particularly on the role of Latvian ports in the national economy and the need to strengthen the sector’s competitiveness amid changing geopolitical conditions.
Given that market conditions remain challenging and diesel fuel prices continue to hover near the levels observed in mid-March, the Ministry of Economics believes that the reduced excise tax rate on diesel fuel should be extended for an additional three months.
“Ports are one of the pillars of Latvia’s economy. They are essential for export development, investment attraction, and our country’s competitiveness in the Baltic region. At this moment, it is especially important to provide a clear development vision, predictable regulation, and close cooperation between the state, municipalities, and businesses,” Valainis emphasized.
When discussing developments in the transit sector,
participants examined the impact of increased international rail freight tariffs on the competitiveness of Latvia’s transit corridor.
The Ministry noted that the issue has already been identified as a priority requiring interinstitutional action, and that the involvement of the Latvian Stevedoring Companies Association will be crucial in gathering industry data and preparing proposals for future discussions at both government and European Union levels.
The meeting also addressed the ongoing port governance reform. The Ministry of Economics reiterated its support for a unified governance model for Latvia’s major ports, ensuring balanced representation of the state, municipalities, and business sector.
“In the current geopolitical and economic environment, close cooperation with state institutions is particularly important for the port industry. Declining cargo volumes require a rapid response, making it necessary to reduce bureaucratic burdens and find practical solutions that help companies adapt to new market conditions and develop new business directions,” said Ivars Landmanis.
While discussing investment support opportunities for port companies,
the Ministry presented available instruments offered by LIAA and ALTUM for business transformation,
digitalization, innovation, and export development. Both sides agreed to continue discussions regarding specific investment needs within the sector in order to assess potential support mechanisms.
Participants also highlighted the need to develop a medium-term Latvian Port Development Programme that would provide a unified strategic vision for the development of the national port system and offer greater predictability for investors.
The Ministry of Economics has proposed including the issue on the agenda of the Port Development Operational Working Group so that industry representatives and relevant institutions can jointly agree on future development priorities.
“Competition for Central Asian cargo depends not only on business initiative but also on clear political support from the state.
At the government level, cooperation with Kazakhstan and Uzbekistan should be promoted more actively, as they are currently among the most promising partners in the transport and logistics sector. Central Asia is also one of the European Union’s priority regions for cooperation,” stressed Āris Ozoliņš.
At the conclusion of the meeting, both parties reaffirmed their commitment to maintaining regular cooperation aimed at strengthening the competitiveness of Latvian ports, attracting investment, and ensuring the sustainable development of the sector.
The Latvian Stevedoring Companies Association also expressed its appreciation for the cooperation established so far with the Ministry of Economics and for the constructive dialogue on issues affecting the future development of the industry.
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