During talks between Latvia and the United Arab Emirates (UAE) held in Dubai, the parties identified priority sectors where the potential for faster and more effective cooperation is particularly high – innovation, artificial intelligence, cybersecurity and digital infrastructure, as well as renewable energy. These areas closely align with the UAE’s long-term development goals, noted Minister of Economics Viktors Valainis.
On Monday, 24 November, several meetings took place in Dubai between the Minister of Economics and the Latvian business delegation and representatives of the UAE. Among them, Valainis met with the UAE Minister of State for Foreign Trade, His Excellency Dr Thani bin Ahmed Al Zeyoudi.
In addition, the Minister of Economics, Director General of the Latvian Employers’ Confederation (LDDK) Kaspars Gorkšs, and Member of the Board and Director of the Foreign Affairs Department of the Latvian Chamber of Commerce and Industry (LCCI) Katrīna Zariņa took part in the third meeting of the Latvia–UAE Joint Economic Committee, where issues related to promoting economic cooperation between the two countries were advanced. At the same time, entrepreneurs participated in a Latvia–UAE business roundtable discussion.
The Minister emphasised that agriculture and food are also areas with high cooperation potential – not only in terms of product exports, but also through sharing sustainable agricultural practices. Other promising areas include transport and logistics, as Latvia can offer connectivity to Northern Europe and Central Asia, as well as tourism.
“The discussions held today at the third meeting of the Latvia–UAE Joint Economic Committee confirm the mutual commitment to strengthening economic ties and expanding cooperation between our countries. I am pleased that a strong Latvian business delegation – nearly 20 companies from the fields of innovation, technology, energy, construction, transport and logistics – has joined me in the United Arab Emirates to seize opportunities and strengthen their presence or seek new partnerships here,” said Valainis.
He also noted that, alongside already signed memoranda of understanding and cooperation agreements, work is currently under way on memoranda of understanding in the fields of education and science, as well as healthcare.
Meanwhile, one of the key issues discussed at the Joint Economic Committee meeting concerned the next steps in establishing a Latvia–UAE Business Council, as well as the signing of a memorandum of understanding between the Latvian Chamber of Commerce and Industry and the Abu Dhabi Chamber of Commerce and Industry.
At the meeting, LDDK introduced the Latvian representatives of the UAE–Latvia Business Council, agreeing that the UAE side would introduce its members by the end of this year. Potentially, the first council meeting could then take place in the near future.
“We fully agree that partnerships with the United Arab Emirates must be promoted, especially by seeking new forms of cooperation. Therefore, it was important to take the next step towards convening the first meeting of the UAE–Latvia Business Council as soon as possible, strengthening business ties and exploring new cooperation opportunities. The Latvian Employers’ Confederation sees itself as an important link in cooperation with entrepreneurs, helping transform state ambitions into effective policies. Our goal is to turn the memorandum signed this February into practical action,” explained Gorkšs.
Meanwhile, the LCCI Board member emphasised that trade data show the UAE market is highly attractive for Latvian entrepreneurs. This was also confirmed by the LCCI seminar on the UAE market organised at the end of summer, which set an all-time attendance record.
“This visit and the signed memorandum of understanding with the Abu Dhabi Chamber of Commerce and Industry are a logical next practical step for the LCCI to continue supporting the interests of its members and expanding its cooperation network. The memorandum provides for the exchange of experience and available economic, commercial and investment information, as well as cooperation in any other areas of interest to our members. We are very much looking forward to the signing of the European Union–UAE Free Trade Agreement, which envisages reducing customs tariffs and facilitating services, digital trade and investment flows. This agreement will also accelerate and ease cooperation between Latvia and the UAE regions,” said Zariņa.
Latvia’s foreign economic representation in the UAE has been in place since 2015, which has also helped promote mutual cooperation and enabled Latvian companies to enter the UAE market.
“It must be taken into account that the path to the UAE market is neither quick nor simple – it requires time and personal engagement, but the potential is enormous. For example, companies such as BOX Parking, which offers automated parking systems, and Car Monitor Tracking Monitoring, which is testing vehicle GPS monitoring together with Taxi Dubai, are successfully operating in the UAE. These are just a few examples. Therefore, we will continue to encourage companies to participate in exhibitions and trade missions and, for those wishing to enter this market, to consult with experts from Latvia’s foreign economic representation in the UAE,” said LIAA Director Ieva Jāgere.
This year, Latvia and the UAE mark 30 years since the establishment of diplomatic relations between the two countries. To mark this anniversary, as well as Latvia’s Proclamation Day, the Latvian delegation attended a ceremonial reception on the evening of 24 November, organised by LIAA and the Embassy of Latvia in the UAE.
The working visit will continue on Tuesday, 25 November, when a Latvia–UAE Business Forum will take place in Abu Dhabi, along with meetings between the Minister and the international investment funds Mubadala and ADQ. Entrepreneurs will also visit AD Ports Group, which develops and manages port, logistics, free zone and maritime trade infrastructure.
As previously reported, cooperation between Latvia and the UAE has intensified in recent years – both countries have embassies, bilateral cooperation agreements are in place, and Riga and Dubai are connected by a direct flight. In 2024, total trade in goods and services with the UAE amounted to EUR 211.4 million. At the beginning of 2025, total trade in goods and services increased by 18%.
Companies and organisations included in the Latvian delegation:
3D Engineering, AJ Power, Alūksnes Putnu Fabrika, AmCraft, Asya, BSC Group, GP Systems, HMP Group, IT Camp, LAMOD, Latvian Employers’ Confederation, Latvian Chamber of Commerce and Industry, Primekss, Freeport of Riga Authority, SKYPARK, SUBmerge Baltic, Tilde and VOZOROM.
The working visit is organised by the Ministry of Economics and LIAA in cooperation with the UAE Ministry of Foreign Trade.
The trade mission is implemented with the support of the European Regional Development Fund.
Photo gallery: Latvian entrepreneurs’ visit to the United Arab Emirates – Day One
About the Investment and Development Agency of Latvia (LIAA)
LIAA promotes the competitiveness of Latvian entrepreneurs, export growth and investment attraction, develops the tourism sector and implements Latvia’s national branding policy. The agency acts as a state partner in business development – from idea to international markets. With an extensive network of foreign representations abroad and regional business centres in Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative and open country in the global economy.
