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Investment Environment

Alone among the former Soviet republics, the Baltic Sea region states of Estonia, Latvia, and Lithuania were quick to adopt market economies and to implement democratic reforms.As a result, they have mostly avoided the economic and political crises that have beset other regions in transition from a centrally plnned economy.

Privatization in Baltics is nearly complete, and in 2004, despite the slowdown in the global economy, the three countries posted an average 6,6% increase in their real gross domestic product (GDP).

In 2004, after years of preperations Latvia, Lithuania and Estonia joined the North Atlantic Treaty Organization (NATO) as well as the European Union (EU).