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GatewayBaltic Joins the GIA as a New Member

Welcome to the GIA Network, GatewayBaltic! Inese, the Baltic states are quite a new area of interest for many companies in Europe and beyond. Where do you see your company’s assets in serving international customers who want to learn about the market opportunities in Latvia, Lithuania, and Estonia?

 “At GatewayBaltic, we are a team of research specialists focused on providing Market Intelligence services as well as import/export consultation to foreign companies who wish to find business partners in the Baltic states, and to local companies who wish to expand their supplier or customer network beyond the region.

Our most valuable assets for serving international customers are, firstly, the comprehension of the local market and, secondly, the possibility to involve industry-specific experts for our research projects. While the first one allows us to quickly pinpoint the relevant industry and the related market sectors, the second one, in combination with our specialists’ experience allows us to provide an insider-view on the issues relevant to each customer.

At the moment we have above 20 research specialists across the Baltic states. By involving external consultants from all three Baltic states, we are able to provide both qualitative and qualitative data and to synthesize it into an in-depth analysis of a market, within a relatively short time-span.”

How would you characterize the Baltic states as a market area in general today?

“The Baltic states constitute a changing market, mainly due to the rapid economic growth and the increasing purchasing power of the population. Yet the convergence to the life standards of the EU does not always come easy, and economists are concerned about the long term stability of the rapid economic growth. Latvia’s booming real estate market, which came to a halt last autumn, is an example for that.

Nevertheless, there is much room for development in the manufacturing industries, which still are relatively underdeveloped if compared to the large weight of services within the GDP’s of the three states.

Overall, the Baltic market is a place of opportunities, because its pace of change is much more rapid, although it puts forward a number of challenges for potential entrants, be it the local business culture, availability of suppliers or customers within a particular industry, or the trends of the changing market.”

Thank you for your insights Inese!

GatewayBaltic,
Tel:  +371 671 658 94
www.gatewaybaltic.com