Innovation Opportunities of Export - Oriented Latvia's Forestry and Wood Processing Industry

Forestry and wood processing industry are one of the most important and priority clusters of the economy of Latvia. The key role in its export orientation, including appropriate regional production, was complicated, but not substantially destroyed by the heaviest implications of the recent global crisis's tremors that took place in the world economy. The enlargement opportunities of the innovative component are considered in the paper in the form of a statement in relation to the indicated cluster. These opportunities are seen due to the implementation activating of bio and even nanotechnologies, providing a higher value added as well as the consolidation of export potential.