China launches Latvian e-commerce hub

China has launched a Chinese-Latvian cross-border e-commerce hub in the capital Riga at the Baltic Container Terminal.

China's is Latvia's biggest trading partner in Asia and Eriks Eglitis, secretary of state at Latvia's Ministry of Economics, said that launch was  "rewarding moment" before adding “the annual trade turnover between China and Latvia, currently valued at €640-million, will soon grow to a billion euros and beyond.”

Mr Eglitis also said he hoped that the annual trade turnover between the two countries, which stands presently at €640-million, would grow to in excess of a billion euros.

The charge d’affaires at the Chinese embassy in Latvia, Sun Yinglai, said that e-commerce could become a key part of the deepening cooperation and collaboration between the two countries.

“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,” he said.

The launch was hailed by Andris Ozlos, the head of Latvia's Investment and Development Agency. He said that the e-commerce hub will promote business links between China and Latvia and through it, more Chinese investment would flow as businesses see the small Baltic nation as a throughway for trade with Scandinavia, Germany, Poland and Russia.

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