According to Olga James a writer for the Baltic Times forestry will be vital to the future of Latvia. She explained that the timber industry and related sectors have made up a crucial part of the country’s economic structure and will continue to do so for many years.
However she also pointed out that changing technologies mean that new ways of working might have to be found. Ms James explained that the advent of biomass power production could help provide the country with another source of income.
Ms James said: “From the investment perspective, as the development of Latvian wood product manufacturing, using wood from Latvian forests has been a major industrial success story in the past years; the sector is likely to attract fresh foreign direct investment flows as soon as the situation on the global markets stabilises.”
This is reflected in the discussions currently going on between Latvia and Hungary. Peter Balazs, the Hungarian foreign minister, met his Latvian counterpart, Maris Riekstins during a visit to Latvia. They met to discuss economic co-operation between the two countries, which include Latvian timber investment interests.
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January 26th, 2010 at 4:02 am
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January 28th, 2010 at 1:29 am
This is an interesting post. Timberland investments have really increased recently.