Impact of Export Trade Promotion Organizations on Export Development in Latvia in the Context of Globalization

Turība University, Faculty of Business Administration, Department of Commerce, 68 Graudu Street, Riga, Latvia

^* Corresponding author: vveinbergs@gmail.com

Abstract

Research background: The impact of globalization in the 21st century is increasingly bringing change in the world’s political, economic, social and technological processes. It has become much easier to get information about relevant events across the borders, which lead to the visibility and accessibility of international business environment. International organizations promote and encourage small countries in the same manner as large ones in order to integrate them into the world’s economic development. As a result, most countries become partners and benefit through this globalization process which can be seen as a triggering factor for a successful cross-border trade.

Purpose of the article: This paper aims to analyse the impact of Trade Promotion Organizations (TPO) on business in Latvia and its usefulness for export activities as well as contribution of TPO program to GDP growth in Latvia in the period from 2004 to 2019.

Methods: In this research authors have used a case study method and analysed the experience of TPO in the global trade environment. Secondary data were obtained from statistical databases and research literature; regulations of international organizations in relevant countries - from publicly available sources.

Findings & Value added: Results of this research indicate that organizations which promote and support Latvian export positively influence activities and high-quality cooperation with exporting companies and entrepreneurs who want to trade abroad. At the end of the research, the authors summarize their findings about TPO’s support activities to exporters in Latvia and other countries.