Latvia immigration news: Daily Economic Edition reported on April 23 that Mitsui & Co., Ltd., a wholly-owned subsidiary of Japan, has recently acquired 80% of the shares of Riga Universal Terminal Ltd. The President of the Latvian Logistics Association, Krūmiņš, stated after discussions with the Japanese side that Japanese companies have chosen the Baltic Sea to establish a transshipment channel to Russia and other CIS countries, primarily due to the difficulties faced by Japanese enterprises in transportation through the Trans-Siberian Railway. The Japanese government places great importance on strengthening cooperation with Northern Europe and establishing a transshipment channel through the Baltic Sea to CIS countries, planning to use Riga Port for the transportation of goods for Mitsubishi in Kaluga (Russia) and Hitachi at the Visaginas Nuclear Power Plant (Lithuania).
Riga Universal Terminal Ltd. was established in 2001, with total assets of 3.16 million lats, a turnover of 7.99 million lats in 2012, and a profit of 1.81 million lats. The terminal's cargo throughput in 2012 was 2.57 million tons, accounting for 7% of the total volume of Riga Port.
