Business opportunities in the Baltic region
With fewer than 7 million people, the Baltic states may not be the obvious export market. With historic strong trading links with the rest of Europe and business friendly environment, potential opportunities should not be overlooked.
The three Baltic states of Latvia, Lithuania and Estonia regained their independence from the Soviet Union in 1991, and joined the EU in 2004. Their proximity to Russia's growing consumer market on one side and Germany and the rest of Europe on the other, makes it an ideal starter market for Scottish companies new to exporting.
It's also relatively easy to do business there with a developed infrastructure, a highly educated and multilingual workforce, as well as relatively low office rental costs to help you get a foothold in the market.
Key sector opportunities
- Energy – new power plants in Latvia and Lithuania, renovation of electricity transmission grid, cogeneration, renewable energy, energy efficiency projects, microgeneration, energy measuring gadgets, CO2 collecting and storing technologies
- Education – there is substantial funding to support training opportunities in Lithuania
- Biotechnology – R&D partnering opportunities in Latvia and Lithuania
- Shared services and business process outsourcing (BPO)
- Environment – equipment and technologies, waste management, energy from waste, landfills and sorting facilities
- Transport infrastructure – development of airports, transit development through ports and other links, modernisation of rail transport system, development of the state road traffic networks
- Other sectors – engineering, chemicals, ICT, textiles, food, tourism and leisure
SDI offices: London, Moscow
SDI has a network of offices across Europe to help Scottish companies take full advantage of these export opportunities, and to attract potential foreign direct investment into Scotland.
SDI's London office supports Scottish businesses in setting up and growing their exports in the Baltic states – Lithuania, Latvia and Estonia.
Find out more about our overseas market support
Other sources of support for Scottish companies
Cormack Consultancy Baltic (CBB):
With support from our partners at UK Trade & Investment we can offer you insights into the region's market potential: