China launches e-commerce hub in Latvia

China has launched a joint China-Latvia cross-border e-commerce hub at the Baltic Container Terminal in Latvia’s capital Riga.

China is Latvia’s biggest Asian trading partner, and Ēriks Eglītis, secretary of state at Latvia’s ministry of economics, dubbed the launch of the hub as a “rewarding moment”, adding that “the annual trade turnover between China and Latvia, currently valued at 640 million euros, will soon grow to a billion euros and beyond.”

Sun Yinglai, charge d’affaires at the Chinese embassy in Latvia, indicated that e-commerce could become one of the keys to deepening cooperation between China and Latvia.

“Through cross-border e-commerce platforms, products from Latvia and other Central and Eastern European countries are quickly and directly accessible to the Chinese market and consumers,” said Mr Yinglai.

As Xinhua Net reports, Andris Ozols, head of the Investment and Development Agency of Latvia (LIAA), voiced confidence that the new e-commerce hub will be promoting business exchange between China and Latvia, and with trade turnover growing, more and more Chinese investors would see Latvia as a good place for doing business as they regard Latvia as a springboard for trade with Scandinavia, Germany and Russia.