Latvian Business Mission in Washington Concludes – Over 100 Meetings, New Export Deals, and U.S. Market Expansion
This week, the Latvian business mission in Washington concluded, during which more than 100 individual meetings with potential investors were held, new export deals were launched, and an agreement was signed to represent the interests of Latvian companies in 29 U.S. states.
The business mission took place from October 13 to 17 and focused on strengthening cooperation in the defense, energy, and digital technology sectors. Latvian companies participated in the defense industry exhibition AUSA Annual Meeting & Exposition and the business conference Spotlight Latvia, which gathered over 200 participants from Latvia and the United States.
Latvia Strengthens Economic Ties with the U.S.
“Over the past six months, investments from the U.S. have increased by 18%, and this business mission demonstrates that the potential is even greater. During the mission, we met investors who expressed interest in investing in Latvia, and several of them will visit our country this year to implement their investment plans. Strengthening economic relations with the U.S. is not only about investment but also about security – this visit has proven that we are a safe and reliable partner,” emphasized Minister of Economics Viktors Valainis.
Agreement on an €80 Million Investment Project in Kurzeme
During the mission, several high-readiness investment projects were identified, including an agreement on an €80 million investment project in Kurzeme, aimed at developing military production capacities.
U.S. investors showed strong interest in dual-use technologies, the energy sector, and green innovations.
The Norsaf project in Liepāja is also progressing successfully, developing green aviation production using U.S. technologies. Latvian defense industry companies, such as Edge Autonomy (unmanned aerial vehicles) and Exonicus (trauma simulation solutions for soldier training), are successfully expanding their operations in the U.S. market.
Expanded Support for Latvian Companies in the U.S.
One of the key outcomes of the visit is a cooperation agreement between LIAA and the Latvia–U.S. Chamber of Commerce (LACC). This agreement ensures that Latvian companies will have access to support in 29 U.S. states through the LACC representation network, providing guidance on market specifics, partner acquisition, and investment opportunities.
“We are pleased with the active participation of entrepreneurs in LIAA’s initiatives. This was the fifth Spotlight Latvia conference, and our ambitions continue to grow. In two years, when the next conference takes place, we aim to turn it into a Baltic-region event that strengthens economic cooperation with the U.S. across the entire region,” said LIAA Director Ieva Jāgere.
Scientific Cooperation and Innovation Opportunities
During the visit, Zaiga Pūce, Director of the University of Latvia Foundation, and Enno Ence, Vice-Rector for Development at the University of Latvia, visited Princeton University, where they met with Steve Staples, Assistant Vice President for Development, Principal Gifts, and organizers of the university’s annual fundraising campaign. Princeton University boasts the highest alumni engagement rate, with 60% of graduates donating annually. LU representatives were introduced to Princeton’s fundraising strategies and the challenges faced in implementing alumni programs. This was the first visit and will be followed by closer cooperation in specific scientific fields between the two universities.
Participating Companies and Organizations
State Defense Corporation, Latvenergo, Edge Autonomy Riga, Oruga, ZAB Ellex Kļaviņš, University of Latvia Foundation, University of Latvia, Defence Partnership Latvia, SILMOR, Latvian Exporters Association "The Red Jackets", Latvian Chamber of Commerce and Industry, Baltic Bullets, Latitude Construction, BELSS, Agricultural Organizations Cooperation Council, Ludzas Bio-Enerģija, MN TECH, SAPRA, Deep Space Energy, SAF, RTU/Riga Business School, Amber Hill Studio, Emergn, SPIGULIS & KUKAINIS Law Office, PRIMEKSS, Ernst & Young Baltic, RIX, ZAB Eversheds Sutherland Bitāns, Frankenburg, LMT, Data Crunch.
The business mission was organized by the Ministry of Economics and LIAA, in cooperation with the Latvian Embassy in the U.S. and the Latvia–U.S. Chamber of Commerce (LACC).
The mission was implemented with the support of the European Regional Development Fund.
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LIAA business mission concludes in the U.S.
About the Latvian Investment and Development Agency (LIAA)
LIAA promotes the competitiveness of Latvian companies, growth in exports, and the attraction of investments. The agency also develops the tourism sector and implements the national brand policy. LIAA acts as a state partner in business development – from idea to international markets. With an extensive 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.