Authorities at the Port of Hamburg have signed a Memorandum of Understanding with the Latvian Ministry of Transport, for better cooperation. This recent agreement between the two countries will be able to offer improved trade between the famous Port of Hamburg (in Germany) and Latvia’s ports of Riga, Ventspils and Liepāja.
In the Memorandum, the partners agreed to a better exchange of data and experience, while also benefiting from joint drafting and implementation of international cooperation projects. Furthermore, by doing so, Germany and Latvia would be able to improve intermodal transport services between Europe and Asia.
‘Latvia and Germany are already partners, but further scope still exists for improved and stronger cooperation with the most significant regions and areas of the economy. We are delighted to have given the starting signal today for a close partnership with Germany’s largest seaport’, according to the Under-Secretary of State in the Latvian Ministry of Transport, Kaspars Ozoliņš.
Four liner services already operate between Hamburg and Riga, making this one of the more profitable agreements in the world. In 2018 alone, Hamburg and Latvia handled a total of 100,175 TEUs, while the Latvian ports of Riga, Ventspils and Liepāja handled 66 million tons of cargo.
The Port of Hamburg Marketing (HHM) team has also expressed interest in a multimodal connection between Baltic countries (such as Latvia) and the mainline European railway network, for new and lucrative business opportunities.