According to a report by the Latvian DELFI website, Latvian Minister of Transport Matiss stated on the 16th that there are currently no signs that European sanctions against Russia have had a negative impact on Latvia's transit transport (cargo transport to Russia accounts for approximately 60% of Latvia's freight volume). However, Latvia should diversify its sources of goods to improve competitiveness. Matiss believes that Latvia needs to attract cargo from Central Asian countries, such as Kazakhstan, as well as from China, and that to improve the competitiveness of the Latvian transit corridor, more investment in railway modernization is essential.
The Chairman of the Board of Latvian Railways, Strakšas, stated that the process of attracting Chinese logistics to Latvia is slow. The Chinese side is interested in investing in Latvia, but has not yet taken action. Chinese cargo shipments to Latvia must pass through Russia and Kazakhstan, and the relevant rates remain to be negotiated.
Source: Economic and Commercial Counselor's Office in Latvia
