Poland & Latvia – fastest growing economies in the EU

By 2015 Latvia will be the EU’s fastest growing economy and is likely to be one of only eight member states whos output will expand over 2% in 2014.

Since the adoption of the Euro in 2013, Latvia has seen a decrease in the cost of trade. Latvia’s GDP is forecast to rise from 3.8 to 4.1% by 2015.

However the fastest growing EU economy is terms of rate of growth is Poland. Poland’s economy is expected to accelerate from 1.6% in 2013 to 3.4% by 2015.
Unemployment rates in Poland has fallen from 10.4% to 9.5% in the past year.

Rob Ruhl, Head of Business Economics at ING said: “The excellent economic performance of Poland puts them in the centre of the region, making them a regional heavyweight that is playing an important economic role now and in the future.”

The Netherlands and Germany are the most important direct investors into Poland with Germany also being the most important origin of Polish imports. Germany is also the largest export destination for Polish exports accounting for almost four times the second destination being the UK.

BearingNet 2014 User Meeting – Riga Latvia 9-11 October

Taking advantage of the strong economic position BearingNet have chosen to host their 9th User Meeting in the enchanting city of Riga, Latvia. The meeting will see over 300 bearing and power transmission distributors join together for this world renowned networking event.

The meeting is taking place at the iconic Radisson Blu Latvija Hotel.

Edgars Dislers, Conference & Events Sales coordinator says: “Having delivered an amazing full year in 2013 it was challenging to keep that same pace in 2014 especially due to the Geo Political environment that we are all somehow effected by, due to the reduction in business coming from Russia. We had a fantastic month of July with the unique event of World Choir Games, which strengthened cities internationally. We know how to organize huge events in a very professional way!”

long image 2