Latvian timber industry has recently raised alarm that the Latvian banks are being overly cautious regarding business with Belarus and slowing down transactions. Belarus is an important supplier of materials for Latvian timber industry. Kristaps Klauss, executive director of the Latvian Forest Industry Federation, said that, for example, last year 600 thousand cubic metres of lumber were imported from Belarus. This year, volumes have climbed rapidly and nearly half a million cubic metres were imported in the first half of the year. “We basically use them in further ...
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