You are lucky you can be on your own.” When Latvian President Valdi Zalters explains why he thinks India will be the next superpower, he also spells out why his country and five others in the Baltic Sea Region chose to come together to woo international investment. “We are all small countries, there is not much we can do on our own,” says the President who was till a few days ago a top orthopaedic surgeon. Now, he is the head of a country which has for the past few years been one of the success stories of Europe.

Latvia and neighbours Lithuania and Estonia are termed as the Baltic Tigers for their stupendous growth since independence from Russia in the early 1990s. The three states, which were on the verge of economic ruin when the USSR collapsed, now boast growth rates of around 10 per cent. The trio has grouped up with the more powerful economies of Finland, Denmark and Sweden across the Baltic Sea to present themselves as a “unique value proposition to Indian investment, its expansion and development throughout Europe, Russia and the CIS”.

The Baltic Sea Region investment network has now invited Indian companies, especially from life sciences, engineering, IT and telecom sectors, to set up businesses in the region.

Imars Rimsevics, Governor of the Bank of Latvia, says his country can act as the “gateway to the east and west”. Toward this objective, the country plans to develop into a major logistics hub within a few years. The Riga International Airport, for instance, plans to draw 18 million passengers by 2018. To add to this are the three ports of Ventspils, Riga and Liepaja, all connected to the rest of eastern Europe via rail and road.

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