zoomImage Courtesy: Freeport of Riga; Ilmars Znotins

Latvian Freeport of Riga Authority revealed plans to focus on India and Iran in 2018 as part of its geopolitical developments aimed at increasing cargo levels.

“In these markets, we promote the Port of Riga as a logistics center for the distribution of goods in the Baltic States, Scandinavia and the Nordic countries,” Edgars Sūna, Marketing Director of the Freeport of Riga Authority, explained.

Sūna added that Indian entrepreneurs and officials have already shown interest in the Port of Riga and the opportunities to build a logistics center for the export of Indian goods to the markets of Northern Europe, Russia and the CIS countries. New activities are expected following a cooperation agreement signed last year between the SJSC Latvijas Dzelzceļš (LDz) and the Indian Railways.

Moreover, Iran is said to play an important role as a transit country for Indian cargo transport to Northern Europe. Iran, like Latvia, is interested in the development of the North-South transport corridor between India and Northern Europe, according to the port authority.

A cooperation memorandum was signed last year between LDz Loģistika Ltd and Iran’s railway freight logistics company, which provides for the development of new routes from India and Iran. The port authority said that the agreement sets new challenges for Riga Port “as an important section for this transport corridor.”

What is more, the Freeport of Riga Authority will focus its 2018 marketing activities on both preserving existing markets and working in new regions, attracting new cargo and passenger flows to the port.

“In the marketing area, the Freeport of Riga Authority will continue strategic cooperation with port operators, supporting them in attracting cargo and investments,” according to the port authority.

“In 2018, we will definitely maintain a strategic focus on our traditional major target markets: Russia, Belarus, Ukraine, Kazakhstan, Central Asia and China,” Sūna continued.

“This year, the Freeport of Riga Authority in cooperation with Latvijas Dzelzceļš, the Ministry of Transport and other representatives of the sector will continue the active work towards Belarus market. There are clear objectives set for the sector and a good opportunity for the Port of Riga to compete with the Port of Klaipeda for the attraction of Belarusian cargo flows,” he concluded.

With regards to passenger transportation, the target markets of the Freeport of Riga Authority are ferry and cruise line major operators – Sweden, Germany, Finland, USA, Spain, Italy, and Norway.

In the cruise segment, the emerging markets, which are also in the interest of the Port of Riga, are Asian countries, especially China, where the cruise tourism industry has been developing very rapidly in recent years.