OREANDA-NEWS. October 14, 2009. JSC „Trasta komercbanka” (TKB) opened a representative office in Tajikistan thus becoming the first European bank that has started business in this Central Asian country.

The launch of TKB Tajikistan representative office is an important step of the Bank towards to its clients and an opportunity to open new terrains for Latvian entrepreneurs. Owing to the development potential of Tajikistan's economy and financial solutions offered by TKB, now wide export and import opportunities have become available to Latvian businessmen in the country the economy of which has so far been closed to western business.

The representative office of TKB in Tajikistan is an opportunity for Latvian entrepreneurs to enter a market, where particularly pending are such economic industries as information technology, food industry, construction, woodworking, mechanical engineering, metal working and others which could provide a real potential for development of Latvian export in this region. Latvia, in its turn, could serve as a strategic launching pad for Tajikistan towards the EU countries. This summer, when the President of Latvia and Latvian businessmen and among them representatives of TKB management visited Tajikistan, they discussed on the state-by-state basis the opportunities of Tajikistan's goods transit through Latvia Board.

Chairman of Trasta komercbanka G.Grieze, “Tajikistan has suffered from the global economic crisis less than other countries since it has not reached the apex from which a flop is much more painful. Tajikistan has a strong economic growth potential and the free market niches are attractive to new, including foreign players. The most advanced sectors of Tajikistan's economy are aluminum industry and cotton production, and the banking sector is now developing rapidly. For this particular reason the entry TKB into this market is very well-timed, and our 20 years of international experience in customer service is particularly useful."

Board Vice-Chairman of Trasta komercbanka V. Ziemelis: "When tapping the market of Tajikistan the created partnership is of particular importance in this region, as each entrant in the market is carefully tested and authorised both formally and informally. Therefore, our contacts will considerably ease the endeavors of other Latvian entrepreneurs in this region. "

Trasta komercbanka has many years of business experience in Central Asia, including Kazakhstan, where a Bank's representative office has been operating for five years, and it plays an important role in the research of the region and establishment of business contacts. The address of TKB representative office in Tajikistan is as follows: 100 Rudaki Ave, Dushanbe, Tajikistan, 734003, telephone +992 44 6402777.