ASSESSMENT OF THE DEVELOPMENT PROSPECTS OF TRADE RELATIONS OF LATVIA AND SOUTHEAST ASIA

Abstract

In the article presented, the authors carry out the analysis of export — import operations of Latvia with Asian countries. Based on the UN Resolution on Sustainable Development 2030 adopted in 2015, the concept of developing the world until 2030 is presented for seventeen goals and 169 goals. The convergence of Europe and Asia based on the trade cooperation will certainly lead to a deepening of economic relations between the regions. Using the trading strategies of P. Krugman, C. Lancaster and I. B. Krevis, the authors analyze export-import operations between the countries of Southeast Asia and Latvia. The authors, particularly focus on the main partners of Southeast Asia: the People’s Republic of China, Hong Kong, Taiwan, Japan, South Korea, and Singapore. The authors carried out the analysis of the calculated volume of exports to countries for the period from 2015 to 2017, as well as carried out the analysis of the goods exported by Latvia, identified the leaders of export operations from the countries of Southeast Asia. Based on the statistical date of Latvia, the authors pay special attention to the calculation and classification of exported goods to the countries of Southeast Asia. As a result of the analysis, the authors revealed that the main export goods to Southeast Asia are machinery, mechanisms and electrical equipment, mineral products. The analysis allowed ranking the countries of Southeast Asia by the volume of exported goods.
 Given the trade volumes of Latvia and the countries studied, it is proposed to strengthen the role of SMEs in trade between regions. The analysis of the number of small and medium enterprises of Latvia from 2015-2017 is carried out, as well as the inclusion of SMEs in the trade relations of Latvia and the countries of Southeast Asia is justified.