A discussion of experts on the subject Discover the Israeli Market took place in the headquarters of Rietumu Bank. The event was organised by the Latvian Chamber of Commerce and Industry in collaboration with the Latvian-Israel Economic Support Council and Rietumu Bank, with the support of the Embassy of Israel in Latvia.
The discussion was devoted to studying the Israeli market, its opportunities and practical aspects of its operation and is the first in a series of scheduled events aiming at strengthening economic ties and cooperation between Latvia and Israel.
The discussion was held with the participation of H.E. Hagit Ben-Yaakov, Ambassador of the State of Israel to the Republic of Latvia, Mr. Renat Lokomet, Co-Chairman of the Latvian-Israel Economic Support Council, Prof., Dr.iur Mārtiņš Perts, Former Ambassador of the Republic of Latvia to the State of Israel, Mr. Michael Lotem, Special Adviser for the Economic Affairs with Nordic and Baltic countries of the Ministry of Foreign Affairs of the State of Israel, and Latvian entrepreneurs.
Renat Lokomet, Member of the Board of Rietumu As Renat Lokomet noted when welcoming the guests, the discussion
Discover the Israeli Market is an opportunity for Latvian entrepreneurs to study this market ‘in absentia’ and tendencies of its development, to discover the most attractive areas for cooperation, to get information about the most demanded goods and services in this country. Mr. Lokomet noted that interest on the part of Latvian entrepreneurs in entering the Israeli market has considerably increased in the recent period and such interest is mutual.
“This year, we have observed the increasing activity of Israeli entrepreneurs in Latvia. For instance, during eCom 21 – the largest regional e-commerce forum, which took place in Riga this November, I paid attention to the fact that Israeli IT companies were extremely interested in expanding their businesses to Latvia, and this was only one of the cooperation trends. We see that it is gradually gaining momentum and has bright perspectives,” emphasised the Member of the Board of Rietumu Bank.
In his turn, Michael Lotem told the discussion participants in the course of his presentation about the economy of modern Israel, tendencies of development in this country, its tax system and possibilities of investment, as well as about specifics of concluding transactions with Israeli partners. Mr. Lotem also noted that one of the most perspective trends in the cooperation between Israel and Latvia is the technological sector. “More than half of the goods and services in Israel are the so-called hi-tech. And in this context I see large perspectives for Latvian entrepreneurs who could overtake this experience; especially with regard to the energy sector, including alternative power engineering, where Israel is one of the world leaders.”
Upon completion of the discussion, a number of personal business meetings were organised for its participants where they could discuss urgent issues and further cooperation possibilities.
The next meeting of the Latvian-Israel Economic Support Council is expected to take place in spring 2013.
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