The Development of and Prospects for Commercial Law in Latvia since Accession to the European Union

Abstract

This paper discusses the development of commercial law in Latvia since the country’s accession to the European Union. Commercial law existed in Latvia in advance of World War II, but since the restoration of independence it has achieved a new level of development with the adoption of the Commercial Law. Latvia’s desire to join the EU was an important stimulus for establishing commercial law, and the accession in 2004 is, therefore, a good point of reference in evaluating the development of such law. European Union law continues to have a substantial influence on Latvian commercial law. The author also has reviewed prospects for the future of commercial law in Latvia.