Translated using ChatGPT service.
From September 24 to 26, Minister of Economics Viktors Valainis, together with 180 representatives of companies and organizations, will participate in a trade mission in Hamburg and Mecklenburg-Vorpommern. On September 25, Prime Minister Evika Siliņa will also join the mission to take part in a business forum and meet with senior officials of Mecklenburg-Vorpommern.
This trade mission brings together over 100 Latvian companies from various sectors, ranging from biotechnology and sustainable energy to financial technology, information technology, and the defense industry.
Germany is the third-largest economy in the world and one of the leading innovation and industrial powers. It is Latvia’s second most important foreign trade partner, with a total trade volume of EUR 4.98 billion in 2024. Germany is also Latvia’s third-largest export market, second-largest import partner, and the main destination for Latvian service exports. In the first half of 2025, goods exports to Germany increased by 4% to EUR 641.7 million, while service exports rose by 6% to EUR 355 million.
Minister of Economics Viktors Valainis said:
“This is the largest Latvian business trade mission to date and historically the largest business delegation hosted by the cities of Hamburg and Rostock. It underscores our strategic goal of strengthening economic ties with Germany. The mission aims to increase Latvian exports to Germany by 10% and initiate at least four new investment projects. By meeting with political leaders, port authorities, and university representatives in Hamburg and Rostock, companies will establish collaboration platforms that open new opportunities for Latvian businesses.”
The trade mission offers thematic programs in seven sectors: defense industry, construction, logistics, biotechnology, smart energy, financial technology, and information technology.
In Hamburg, Riga Technical University and HafenCity University will sign a cooperation memorandum to strengthen collaboration in research and sustainable urban development solutions. Minister Valainis will meet Hamburg Finance Senator Andreas Dressel to discuss public sector support models for fintech companies and the development of digital services that Latvian companies can offer to Germany. Special attention will be given to green energy projects through meetings with Hamburg Deputy Mayor Katharina Fegebank and leading energy companies in Hamburg. The mission will also present Latvia’s major public-private partnership projects, including Rail Baltica and Riga Airport development projects. Minister Valainis will meet Dr. Melanie Leonhard, Hamburg Senator for Economy and Innovation, to discuss economic cooperation between Latvia and Hamburg and follow up on the Memorandum on Maritime Technology and Digital Innovation signed in June. The memorandum brings together key partners such as LMT, Riga Freeport, Elektroniskie Sakari, and LVR Flote from Latvia, and the Hamburg Port Authority and Hamburg Port Fleet from Germany.
In Rostock, the Latvia–Germany Business Day will gather over 250 participants, focusing on energy, digitalization, infrastructure, and defense industry development. The event will be opened by Latvian Prime Minister Evika Siliņa and Mecklenburg-Vorpommern Prime Minister Manuela Schwesig. Panel discussions will include Latvian Minister of Economics Viktors Valainis, Mecklenburg-Vorpommern Minister of Economics Wolfgang Blank, and business leaders from both Latvia and Germany. The delegation will visit the Nordex Energy factory in Rostock, one of Europe’s leading wind turbine production centers, and H2APEX, a company developing green hydrogen production and infrastructure. A visit to EEW Special Pipe Construction, which manufactures offshore wind farm foundations and has shown interest in development opportunities in Latvia, is also planned.
LIAA Director Ieva Jāgere noted:
“Latvia has historically had strong economic ties with Germany, especially Northern Germany. Germany is the largest manufacturing country in Europe, with industrial output accounting for 20% of GDP, compared to the EU average of 15% and Latvia’s 13%. This opens wide opportunities for collaboration and integration into value chains with German companies. This trade mission, involving over 100 companies, demonstrates that Latvian businesses are ambitious and want to be more broadly represented in the global market.”
Companies and organizations participating from Latvia include:
ALL-TECH; AM Enerģija; Abillio; AdvanGrid; AppXite; Baltijas Fotonika; Bdetect; Biosan; Bonusukarte.lv; C2; CIS Liepāja; CMB Mājokļu Fabrika; Cellbox Labs; Citrus Solutions; Cēsu novada pašvaldība; Datakom; Debitum Investments; Double Helix Technologies; Ecengo; Edge Autonomy; Engycell; Fintech Latvija association; Flora; Riga Freeport Authority; Green Technology Cluster; Ignitis Renewables Latvia; IT Cluster Latvia; Laflora Enerģija; Latvenergo; Latvian Chamber of Commerce and Industry; LMT; MilTech Latvia; Rettenmeier Baltic Timber; Riga Technical University; Schwenk Latvia; Tet; Tilde; Vizulo Solutions, among many other companies and organizations representing biotechnology, sustainable energy, IT, fintech, logistics, construction, and defense sectors.
The trade mission is organized by the Ministry of Economics and LIAA, in cooperation with the State Chancellery and the Embassy of Latvia to the Federal Republic of Germany.
About the Latvian Investment and Development Agency (LIAA):
LIAA promotes the competitiveness of Latvian entrepreneurs, export growth, and investment attraction, develops the tourism sector, and implements the national branding strategy. The agency acts as a state partner in business development—from idea to international markets. With a wide network of foreign representations and regional business centers in Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative, and open country in the global economy.