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Although Estonia, Latvia, and Lithuania are independent countries with distinct languages, cultures, economic and national policies, they bear similarities in size, geography, demography, economic development and structure, and are often perceived and approached as a single territory—the Baltics. Located in northeastern Europe, the Baltics share borders with Russia to the east and are surrounded by the Baltic Sea to the west and north. The business environment in the Baltics is generally favorable to foreign businesses, with transparent legal frameworks, low levels of corruption (particularly in Estonia), and English widely spoken in the business community. Key markets for exporters seeking expansion in the Baltics include defense, healthcare, power sector transformation & decarbonization, ICT and cybersecurity, the agricultural and food sector, and transport and logistics.