It is important how the life far way is perceived both from your side and from the side of the Latvian state. Your existence outside Latvia should be perceived as an opportunity for development allowing Latvian businesspersons to use your experience and knowledge for opening the way for better cooperation with Latvia.
Exactly such approach enables everybody feel useful, involved in a joint action in favour of the Latvian growth, and grow closer. Perhaps that just many of you are the first Latvian business representatives in your countries near and far away, and no one else is familiar with the market situation, opportunities and solutions better than you are. Besides, you perfectly know the Latvian traditions and the conditions of business environment, being a detached observer of Latvia and sometimes being able to see more accurately what is most needed for our national economic growth. I therefore call on you to build links and cooperation with business community operating in Latvia that would give impetus to them to develop and transform into significant players in the world.
Experience and more than twenty years of independence have shown that Latvian entrepreneurs can be and are able to compete successfully in other countries outside Latvia. Those are IT, wood processing and food processing, and other high value-added businesses. Links with compatriots living abroad are also important in each of those success stories.
I am confident that Latvia is overcoming consequences of the global financial crisis successfully. Evaluating the current events in Greece, we especially appreciate that. Rates of our national economic growth are among the best in the European Union now. Exports and gross domestic product are increasing, whereas unemployment rate is gradually decreasing. Of course, we have paid a severe price for those achievements, as a part of most capable people has gone to work to other European countries.
Therefore, a question how at least a part of those having left could be reverted still is and will remain very important. Shall it be material inducement or emotional slogans, strengthening the feeling of belonging to Latvia or building national self-confidence? There is no single recipe and universal method for that purpose. It can be only a wide set of measures and targeted policy. We will not get along only with social advertising campaigns and loud slogans.
Latvia has successfully managed its first Presidency of the Council of the European Union, whose main priorities included promotion of the EU’s competitiveness and growth. The European Union is the biggest exporter in the world, competing with other regions in the world at the same time. In a broader context, economic stability within the European Union and expansion of relations with the world’s largest economies are major challenges for the European Union. That issue was also on the agenda of your forum today.
Exports and imports proportion of the Latvian goods and services continues to indicate towards opportunities yet untapped and growth potential not used to full extent. In recent years, Latvian businesses have shown sustained export volumes and have been able to demonstrate diversification of the balance of exports and markets in response to the geopolitical challenges and tensions. Much remains to be done in the area of attracting investments that will be one of the most important issues of today’s agenda. I consider your involvement in projects that will be developed according to the Investment Plan for Europe proposed by the President of the European Commission Jean-Claude Juncker being very necessary and very important for the entire European Union as one of possibilities for specific cooperation with you.
Increase of trade volumes between Europe and Asia, as well as globalization trends of production and sales markets create demand for new, innovative multi-modal supply chain solutions. Efficient and multimodal connectivity is one of the preconditions for deepening the cooperation. Using those opportunities is one of the long-term tasks.
Education plays a crucial role in development of successful business. Good and high-quality education is a prerequisite for development of any country, because technologies develop very rapidly in the modern world, requiring new knowledge and skills throughout one’s life. Nowadays we face a new trend and new experience simultaneously, when young people study only to obtain academic degrees and then join the crowd of unemployed. That relatively new problem in many countries must be addressed immediately. A dual education model is one of the tools successfully solving that problem, which Latvia already started to realize in collaboration with Germany, Switzerland, and Austria, where combination of basic education and vocational education and training proved right completely.
Deliberative policy, further structural reforms and strengthening of financial sector is the best insurance policy against vulnerability of economic and financial sector and excessive volatility risks in the future.
Communication between people living in Latvia and those, who have chosen another country for their residence, but still are wishing to maintain links with Latvia, should also be regular, open, and results-oriented. Therefore, I call on you to find the best and most efficient model of cooperation that would stimulate contacts among the Latvians working in various business sectors in Latvia and in the world, that would facilitate transfer of innovation, investment, and knowledge capital to Latvia and establishment of attractive and fair business and legal environment in Latvia, by mutually agreeing at this Forum.
However, we have to do our home assignments here in Latvia as well: build a stable taxation system, complete educational reform, address issues of energy security, create a modern environment being attractive for investment and compliant with the human life demands, as well as continue supporting our businesses in conquering foreign export markets.
To that end, our common will to live better already today without waiting until tomorrow is required. We have the reason to be proud of Latvia and its achievements! Let us do all the best so that our children and grandchildren would be proud of being Latvians!
I wish you to spend your time and opportunities to get to know Latvia better. I wish you a successful Forum and as much new contacts as possible!