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Access to international trade markets and attraction of foreign investments
Published on 28 September 2018
Latvia
Latvija
This is the good practice's implementation level. It can be national, regional or local.
About this good practice
The objective of the activity: To introduce foreign customers to the advantages of Latvian goods and services, to encourage participation of Latvian enterprises in national stands at international exhibitions and trade missions, to promote the integration of Latvian enterprises in the international supply chains, as well as attraction of foreign investments. It is especially planned to promote creating sales markets for high value added products and services, including eco-innovations.
During design of the program in consultation with SMEs problem was identified, that companies need a support for entering new markets and there is a big need for support in participation in International trade fairs.
Main stakeholders of this program was Latvia Chamber of commerce and industry associations, Enterprises, Performers of economic activity, associations listed in the Register of Associations and Foundations, partnerships of performers of economic activity, LIDA
Eligible costs for participation in international trade fairs was: registration fee, participation fee, fee for information in fair catalog, renting fee for construction of exhibition booth, business trip expenses for up to 3 company persons (like hotel, travel, insurance), translation costs.
Companies could apply to cover up to 70% of costs.
During design of the program in consultation with SMEs problem was identified, that companies need a support for entering new markets and there is a big need for support in participation in International trade fairs.
Main stakeholders of this program was Latvia Chamber of commerce and industry associations, Enterprises, Performers of economic activity, associations listed in the Register of Associations and Foundations, partnerships of performers of economic activity, LIDA
Eligible costs for participation in international trade fairs was: registration fee, participation fee, fee for information in fair catalog, renting fee for construction of exhibition booth, business trip expenses for up to 3 company persons (like hotel, travel, insurance), translation costs.
Companies could apply to cover up to 70% of costs.
Resources needed
During program period under activity 2.3.1.1. Access to international trade markets and attraction of foreign investments, under which 3734 projects were implemented in total 28,7 milj. EUR were spent, which was 113,2% from assigned budget to this activity
Evidence of success
In the beginning program was designed only for 6 month period. As demand for this kind of sup-port was big and participation in program was simple, it was updated and continued until end of the planing period. And at the moment it is used as a fundamental for 2014-2020 program.
During SUPER project interviews with SMEs of the region, this program was considered and described as the most effective help from state support policy instruments.
During SUPER project interviews with SMEs of the region, this program was considered and described as the most effective help from state support policy instruments.
Potential for learning or transfer
Program was deigned not specifically for eco-innovations, but it was used by any SME which was meeting the program description. Within this program companies could use also the possibility to participate in Investment and development agency of Latvia organised state representation stand.
As mentioned by companies - to enter foreign markets it is necessary to be visible not only once in trade fair, but regular. The biggest costs are made by trade fair itself and by sending employees to work in exhibition. This program helped to cover par of these expenses. Participation in trade fare pays back only when there is a contract between companies, but to get but to get to them it is necessary to be visible every year in main industry fairs. This program allowed that.
It is possible to transfer from this instrument it's flexibility and practical approach.
As mentioned by companies - to enter foreign markets it is necessary to be visible not only once in trade fair, but regular. The biggest costs are made by trade fair itself and by sending employees to work in exhibition. This program helped to cover par of these expenses. Participation in trade fare pays back only when there is a contract between companies, but to get but to get to them it is necessary to be visible every year in main industry fairs. This program allowed that.
It is possible to transfer from this instrument it's flexibility and practical approach.
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
Ministry of Economics
Latvia
Latvija
Contact
Project manager