Country Contact

Latvia is located in Eastern Europe, bordering the Baltic Sea and it is situated between Estonia and Lithuania. It has an area of 64,589 square kilometres and its capital city is Riga.

Latvia had a population of 2,306,306 in July 2004 with an estimated growth rate of – 0,71%. Latvian is the national language, however, both Lithuanian and Russian are also spoken. The main religions in Latvia are Lutheran, Roman Catholic and Russian Orthodox.

Latvia’s climate is maritime with wet, moderate winters. The terrain consists of low plain. Natural resources are peat, limestone, dolomite, amber, hydropower, wood and arable land.

Latvia gained independence from the Soviet Union on 21 August 1991. The Republic of Latvia is a Western-style parliamentary democracy and a centralized state. The municipalities have a rather limited range of competences. The members of the unicameral parliament are elected by popular vote and have very far-reaching responsibilities, including the appointment of public officials.

Latvia's transitional economy recovered from the 1998 Russian financial crisis, largely due to the government's budget stringency and a gradual reorientation of exports toward EU countries. The majority of companies, banks, and real estate have been privatized, although the state still holds sizable stakes in a few large enterprises. Of the labour force 15% are employed in agriculture, 25% in industry and 60% in services. The currency of Latvia is the Latvian lat.

Franchising is gradually growing in popularity.

There is no specific franchise law in Latvia.